Hankook Tire Nanum Foundation Announces Tenant Recruitment for 'Warm Social Housing' in Seongsan-dong, Seoul

Exterior of social housing 'Arts Stay Seongsan' (Photo by Hankook Tire Nanum Foundation)

[Asia Economy Reporter Kim Ji-hee] Korea Tire & Technology's social contribution foundation, Korea Tire Sharing Foundation, announced on the 22nd that it is recruiting new tenants for 9 households at a social housing complex located in Seongsan-dong, Mapo-gu, Seoul, built with the support of the 'Warm Society Housing Fund.'

The housing for which tenants are being recruited is 'Arts Stay Seongsan,' opened by the social enterprise Antenna with support from the Warm Society Housing Fund. It was constructed as a land-lease social housing type, where buildings are built on publicly leased land and rented out long-term at affordable rates.

It is characterized by convenient access to nearby cultural areas such as Hapjeong and Hongdae, and provides an environment where various tenants, including creators, young people, and newlyweds, can communicate with the local community.

Applicants can apply by submitting the application form and qualification verification documents via email. Applications will close once all units are occupied on a first-come, first-served basis. Detailed information about the space and application process can be found on Antenna’s social housing brand Arts Stay website.

Meanwhile, the Warm Society Housing Fund was established in 2016 by the Korea Tire Sharing Foundation, which contributed funds to the nonprofit organization Sharing and Future to promote social housing supply and support housing stability for socially vulnerable groups. It is the first private-based social housing project fund in Korea. Currently, it operates with approximately 12 billion KRW and has supported 30 social housing projects providing homes for 430 households since 2016. Each social housing project offers housing to young people, newlyweds, and others at rents 40-80% lower than the surrounding market rates for up to 10 years.