LH Supplies 384 Hope Shops to Support Socially Disadvantaged Entrepreneurs

A total of 384 units supplied across 84 complexes nationwide, offering affordable rent and securing demand
Providing long-term stable startup spaces for socially vulnerable groups such as youth and career-interrupted women

[Asia Economy Reporter Kangwook Cho] Korea Land and Housing Corporation (LH) announced on the 31st that it will supply 384 Hope Shops within LH rental complexes this year to create jobs for socially vulnerable groups and prevent displacement.

'LH Hope Shops' provide long-term startup spaces below market price to socially vulnerable groups such as youth, women with career interruptions, social enterprises, and small business owners, supporting the creation of social value and stable income activities.

Since starting with the supply of 6 rental shops in the Seoul Gajwa Happy Housing in 2017, LH has supplied a total of 618 Hope Shops nationwide to date, attracting significant interest from aspiring entrepreneurs due to affordable rents and abundant demand from residents.

This year, a total of 384 Hope Shops will be supplied across 84 rental housing complexes nationwide, including Namyangju Byeollae A-24BL. The supply for January to March has already been completed.

The rental conditions are as follows: for youth, women with career interruptions, and social enterprises, rent is set at about 50% of market price (Public Support Type I); for small business owners, about 80% of market price (Public Support Type II); and for other actual users (General Type), rent is supplied based on the winning bid amount. For the public support types (I and II), recipients are selected considering startup (business) items.

The lease contract period is 2 years, and if there are no reasons for contract termination such as loss of eligibility, the contract can be maintained for up to 10 years in 2-year increments. Upon renewal, the rent increase rate is determined within a 5% range considering inflation.

Detailed information regarding application schedules and other matters can be confirmed through the LH Subscription Center. The supply volume for the current month will be posted every first Friday of the month under 'Shops - Sale & Rental Information' in the Subscription Center. The supply volume for April will be posted on the 2nd.