Busan City and Korea Securities Depository Provide 'Shared Housing for Youth Preparing for Independence'

Nation's First 15 Shared Company Housing Units Provided in Busan Area

Model Case of Public Institution Regional Cooperation, Local Contribution

[Asia Economy Yeongnam Reporting Headquarters Reporter Dongguk Lee] Busan City and Korea Securities Depository are collaborating to provide 15 employee housing units free of charge to youth preparing for independence, becoming the first innovation city relocation institution in the nation to do so.

Busan City Hall.

Korea Securities Depository's 'Busan Regional Youth Housing Support Project' shares 15 employee housing units free of charge for youth preparing for independence who must leave protective facilities upon turning 18. The project began in April 2022 through an agreement among Busan City, Korea Securities Depository, and Busan City Independence Support Center. The three organizations work together to help these youth start successful independent lives in comfortable and safe spaces.

Youth selected for the shared housing can use the units for a basic period of 2 years, up to a maximum of 4 years, and receive essential household items such as refrigerators, washing machines, and beds free of charge.

Additionally, Korea Securities Depository plans to provide move-in gifts worth approximately 400,000 KRW, including bedding sets and exercise equipment, along with economic education and psychological counseling services, which are expected to greatly assist the smooth social settlement of youth preparing for independence.

Lee Yoon-jae, Director of the Youth Industry-Academia Division of Busan City, said, “We express our gratitude to Korea Securities Depository, which has been actively contributing to regional mutual growth as a public institution relocated to Busan.” He added, “The city will also strive to further cooperate with relocated public institutions through this project to promote regional mutual growth initiatives.”

Since relocating to Busan Innovation City at the end of 2014, Korea Securities Depository has been dedicated to regional mutual growth by supporting jobs for vulnerable groups, maintaining a high local talent recruitment rate, and contributing significantly to establishing the Busan International Financial Promotion Agency in 2020 and creating the Busan Social Economy Support Fund (BEF) in 2021.