'Jeonnam-style Ten Thousand Won Housing' Breaks Ground in Jindo... Addressing Affordable Housing Concerns

Jeollanam-do Governor Kim Youngrok is performing the groundbreaking ceremony celebrating the 'Jeonnam-style Ten Thousand Won Housing' with key guests at the project site in Namdong-ri, Jindo-eup on the 24th. Provided by Jeonnam Province

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As various policies are being implemented to overcome the crisis of local extinction, the 'Jeonnam-style Ten Thousand Won Housing Project' has broken ground in Jindo. This project is one of Jeonnam Province's key support policies aimed at preventing the outflow of young people, which is one of the main causes of population decline in the Jeonnam region, and supporting their stable settlement.

On April 24, Jeonnam Province held a groundbreaking ceremony for the 'Jeonnam-style Ten Thousand Won Housing' at the project site in Namdong-ri, Jindo-eup. The event was attended by Kim Youngrok, Governor of Jeonnam Province; Kim Taegyun, Chairman of the Jeonnam Provincial Council; Kim Heesu, Mayor of Jindo County; Choi Myungsoo, Chairman of the Safety, Construction, and Firefighting Committee of the Jeonnam Provincial Council; representatives of local youth and newlyweds; and around 200 residents of Jindo County.

The 'Jeonnam-style Ten Thousand Won Housing Project' is an innovative housing support policy that supplies newly built, spacious apartments to newlyweds (with an exclusive area of up to 85 square meters) and young people (with an exclusive area of up to 60 square meters) at a low monthly rent of 10,000 won, without a deposit, for up to 10 years. The main goal is to reduce the housing cost burden for young people and to support their stable settlement in the region.

The Jindo Jeonnam-style Ten Thousand Won Housing, which broke ground with this ceremony, will be built on a 3,442-square-meter site and consist of two 15-story buildings. A total of 60 units will be supplied (30 units for young people and 30 units for newlyweds). Of the total project cost of 18 billion won, Jeonnam Province will cover 15 billion won for 50 units, and Jindo County will cover 3 billion won for 10 units.

Jeonnam Province expects that the 'Jeonnam-style Ten Thousand Won Housing Project' will serve as an important turning point in overcoming the crisis of local extinction by resolving the outflow of young people caused by excessive housing costs and by creating a residential environment conducive to childbirth and childrearing, thereby increasing the birth rate.

In his commemorative speech, Kim Youngrok stated, "The Jeonnam-style Ten Thousand Won Housing Project is not simply a housing supply policy, but a measure to relieve young people and newlyweds of the heavy burden of housing costs and to give them hope and dreams. We will do our utmost to ensure that a cozy and pleasant home, where young people and newlyweds can nurture their hopes and dreams to the fullest, is built solidly and well."

Starting with the groundbreaking in Jindo County, which was selected as a project site last year, Goheung County is scheduled to begin construction in June, and Boseong County and Shinan County in October. Jeonnam Province plans to recruit residents in the second half of this year, with the first move-in scheduled for the first half of 2026, and aims to supply a total of 210 units by 2027. The four counties selected this year also plan to complete all administrative procedures within this year, start construction in 2026, and complete supply by 2028, providing significant support for the housing stability of young people and newlyweds.

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