LH to Begin Accepting Applications for Leasehold Rental Housing for Newlyweds, Newborns, and Multi-Child Families Starting on the 24th

Ongoing Applications Until December

A Total of 9,120 Units Nationwide

On March 24, Korea Land & Housing Corporation (LH) announced that it will begin accepting applications at any time for leasehold rental housing for newlyweds, households with newborns, families with multiple children, and similar groups.

Starting from this day until the end of the year, LH will conduct ongoing recruitment for a total of 9,120 households nationwide, targeting newlyweds, households with newborns, and families with multiple children. By type, this includes 5,700 units under the Newlywed·Newborn Type I, 1,170 units under the Newlywed·Newborn Type II, and 2,250 units for families with multiple children.

The leasehold rental housing system allows eligible applicants to find a home to reside in within the approved support limit. LH then signs a lease contract with the homeowner and subleases the property to the eligible applicant at an affordable rate.

The 'Newlywed·Newborn Leasehold Rental I, II' types are available to households with newborns who have given birth within the past two years and are currently without a home, single-parent families, and (prospective) newlywed couples who have been married for less than seven years as of the application date. Based on income and asset criteria, applicants are categorized into Newlywed·Newborn Type I or Type II.

For the 'Newlywed·Newborn Leasehold Rental I' type, applications are open to those whose average monthly income is at or below 70% of the previous year's average monthly income of urban wage-earning households (or 90% for dual-income households) and who meet the asset criteria for public rental housing. For the 'Newlywed·Newborn Leasehold Rental II' type, applicants must have an average monthly income at or below 130% of the previous year's average monthly income of urban wage-earning households (or 200% for dual-income households), and meet the asset criteria for public rental housing eligible for conversion to homeownership after a mandatory rental period of six years.

The 'Multi-Child Leasehold Rental' type is available to households raising two or more minor children if they are recipients of livelihood support, in the second-lowest income bracket, or are single-parent families, or if their average monthly income is at or below 70% of the previous year's average monthly income of urban wage-earning households. The asset criteria must also meet the requirements for public rental housing.

Applications can be submitted at any time until December 31. After applying, once the qualification verification process—expected to take about ten weeks—is completed, applicants can move into the rental unit.

This content was produced with the assistance of AI translation services.