LH, Supplied 103,000 New Public Rental Housing Units Last Year

28,000 Housing Units for Youth, 38,000 for Newlyweds Supplied
LH Plans to Provide Over 100,000 Public Rental Housing Units This Year

2019 Supply Performance by Life Cycle and Housing Type (Source=LH)

[Asia Economy Reporter Moon Jiwon] Korea Land and Housing Corporation (LH) announced on the 29th that it newly supplied 103,171 units of public rental housing last year.

According to LH, a total of 103,171 units of public rental housing were newly supplied over the past year, including 38,003 units of construction rental, 23,685 units of purchase rental, and 41,483 units of jeonse rental.

Specifically, 28,722 units of Happy Housing for youth and purchase and jeonse rental housing, which increased by 13% compared to the previous year, were supplied.

Public rental housing for newlyweds, which offers affordable housing costs and childcare facilities, was supplied at 38,462 units, a 41% increase compared to the previous year.

Additionally, to strengthen housing support for the elderly, 7,460 units of national rental housing and public remodeling rental housing equipped with convenience facilities such as height-adjustable washbasins were supplied, a 28% increase compared to the previous year.

LH explained, "Last year, we successfully implemented government policies such as the Housing Welfare Roadmap through customized housing support for demanders at each life cycle stage," and added, "We will continue efforts to strengthen national housing stability."

Meanwhile, LH implemented a 'visiting counseling service' for non-housing residents such as those living in jjokbang (tiny rooms) and gosiwon (small dormitories) last year, identifying 3,936 households wishing to move to public rental housing and supporting their move-in.

LH stated, "In the third year of the Housing Welfare Roadmap, we plan to newly supply more than 100,000 units of public rental housing this year," and added, "Reflecting social changes due to the increase in elderly single-person households, we will also promote various housing services such as care for elderly living alone and housekeeping services."