LH to Support Youth and Vulnerable Groups Together with UN-Habitat

Korea Land and Housing Corporation (LH) announced on the 27th that it has signed a memorandum of understanding with the UN-Habitat Korea Committee for "Housing Support and Job Creation for Youth and Vulnerable Groups." At the signing ceremony, Byun Chang-hoom, President of LH (left), and Park Soo-hyun, Chairman of the UN-Habitat Korea Committee, are posing for a commemorative photo. (Provided by LH)

[Asia Economy Reporter Chunhee Lee] Korea Land and Housing Corporation (LH) is joining forces with an international organization to support youth and vulnerable groups.

On the 27th (Friday), LH announced that it signed a memorandum of understanding (MOU) with the United Nations (UN)-Habitat Korea Committee to support housing and job creation for youth and vulnerable groups.

The UN-Habitat Korea Committee was established last year as the first national committee of UN-Habitat for technical assistance and international cooperation in the field of housing and related social facilities. It is an affiliated international organization that develops advanced country-type urban development models in Korea and shares and supports them with the 193 UN member states.

This agreement was prepared to jointly promote housing stability, job creation, and education to strengthen housing rights for youth and vulnerable groups by utilizing the capabilities and experiences of both organizations. According to the agreement, LH will provide long-term vacant public rental housing and rental commercial spaces. The UN-Habitat Korea Committee will use these to support housing stability and job creation such as startups for youth and vulnerable groups, and will also participate in the operation of LH social housing.

Additionally, both organizations agreed to jointly promote practical training, including experiencing the Lease Dispute Mediation Committee, to enhance youth understanding of housing and strengthen housing rights.

Byun Chang-hoom, President of LH, said, "To create sustainable cities, above all, it is necessary to provide an environment where the future generation, the youth, can freely pursue their dreams, along with social interest and efforts. I hope that this agreement will serve as an opportunity to discuss various cooperative projects for youth and vulnerable groups in urban areas."