LH to Supply 33,000 Youth Housing Units This Year... 22% Increase in Supply Volume

Korea Land and Housing Corporation (LH) announced on the 12th that it will establish a Youth Housing Promotion Team and supply 33,000 public housing units for youth this year. This represents an increase of more than 22% compared to last year's 27,000 units.

Korea Land and Housing Corporation (LH)'s youth housing supply plan. [Image provided by Korea Land and Housing Corporation (LH)]

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On April 1st, LH established the Youth Housing Promotion Team to supply youth housing quickly and systematically. This followed the government's creation of the Youth Housing Policy Division under the Ministry of Land, Infrastructure and Transport as a dedicated organization to address youth housing issues at the 21st Public Livelihood Forum.

The Youth Housing Promotion Team is led by the head of the Public Housing Headquarters and consists of the Youth Housing Team and the Research Support Team. The promotion team will develop housing models reflecting locations and other factors where youth can live satisfactorily by October.

Centered on the Youth Housing Promotion Team, LH has also created a collaborative system among related departments and staff to increase youth housing supply and enhance the effectiveness of youth housing policies. At the Youth Housing Kickoff Meeting held on April 8th, the heads of the Public Housing Headquarters, Housing Welfare Headquarters, Land and Urban Headquarters, and the Land and Housing Research Institute gathered to discuss inter-departmental collaboration plans to expand youth housing.

At the second meeting held on the 2nd, 13 department staff members responsible for housing projects, housing welfare, planning, and public relations convened to review housing-related demands of youth tenants. Through this, they discussed improvements to expand youth housing supply based on demand.

Oh Joo-heon, head of LH’s Public Housing Headquarters, said, “To respond to the expanding housing demand of the youth generation, we plan to supply the largest scale of youth housing since LH’s establishment this year,” adding, “We will make company-wide efforts so that youth can tangibly feel the effects of the government’s youth housing policies from their perspective.”

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