LH to Recruit Tenants for 476 Public Jeonse Housing Units... Application Opens on 27th

424 households in the metropolitan area, 52 households in provincial areas, totaling 476 households nationwide supplied
Usable area 59~108㎡, rental deposit approximately 120 million to 330 million KRW
Application period September 27-30, winners announced November 4, contracts and move-in mid-November

[Asia Economy Reporter Kangwook Cho] Korea Land and Housing Corporation (LH) announced on the 9th that it will recruit tenants for 476 public jeonse housing units. This is the second supply of public jeonse housing following 117 units in April.

The first round of public jeonse tenant recruitment previously closed with a competition rate of 27:1, and contracts and move-ins have been underway since June. Public jeonse housing is newly supplied housing under the government's November 19 jeonse policy announced last year. By paying a rental deposit at 80-90% of the market jeonse price, tenants can live rent-free for up to six years in this jeonse-type housing.

The public jeonse housing supplied this time consists of 424 units in the Seoul metropolitan area including Seoul, Incheon, and Gyeonggi, and 52 units in regional areas such as Busan, Gwangju, and Jeonju, totaling 476 units.

In the metropolitan area, 92 units are supplied in Seoul’s Gangbuk, Nowon, Eunpyeong, Seongbuk, and Dongdaemun districts; 191 units in Incheon’s Seo-gu and Yeonsu-gu; and 141 units in Gyeonggi’s Suwon, Yongin, Anyang, Siheung, and Uijeongbu cities. In regional areas, 30 units are supplied in Busan’s Sasang-gu, Seo-gu, and Saha-gu; 20 units in Gwangju’s Nam-gu, Seo-gu, Buk-gu, and Gwangsan-gu; and 2 units in Jeonju, Jeollabuk-do. The usable area per unit (exclusive + balcony extension area) ranges from 58.99 to 108.13 square meters, and the rental deposit ranges from 120 million to 330 million KRW.

As of the announcement date on the 9th, applicants must be members of a household without homeownership. There are no separate income or asset criteria. Households with three or more members can apply as first priority, and those with two or fewer members can apply as second priority.

Applicants can only apply within the recruitment area where their registered residence is located according to their resident registration certificate. One household can apply for only one unit. Applications outside the residence area or duplicate applications will be invalidated.

Applications will be accepted from the 27th to the 30th of this month. The announcement of successful applicants is scheduled for November 4th, and contract signing is scheduled after November 15th. Move-in is possible immediately upon payment of the remaining balance within the designated move-in period (90 days) after the contract.

Ha Seungho, Head of LH Housing Welfare Headquarters, said, "We hope that affordable and stable public jeonse housing will help alleviate the housing insecurity of the people," and added, "We will conduct the third round of public jeonse tenant recruitment in December and continue to secure supply to ensure timely provision to actual demanders."