The Democratic Party Buys Retiree Housing in Provinces to Resupply to Young Adults

'Upcity Project' for Young Adults, Middle-aged, and Retirees
Expanding Working-class Silver Towns through Special Legislation

The People Power Party announced a housing pledge aimed at bridging the quality of life gap between regions. The plan focuses on supporting homeowners in large cities who wish to relocate to provincial areas and reallocating the vacated large city homes to young people and others.

On the 27th, Hong Seok-jun, Deputy Director of the Party's Election Countermeasures Committee General Situation Room, announced the Upcity Project at the central party office in Yeouido. The Upcity Project is a pledge for young and middle-aged adults, as well as retirees, who want to live in provincial cities after leaving large metropolitan areas.

For retirees who own homes in large cities such as Seoul, living expenses and new provincial housing will be provided in connection with housing pensions. The homes previously owned by retirees in large cities will be purchased and entrusted by provincial public corporations and then reallocated to young people and newlyweds.

Deputy Director Hong explained, "If you already own a house in Seoul, it is practically difficult to sell it due to the real estate market downturn. The government and local governments will actively purchase these homes and firmly support the burdens associated with returning to farming or rural living."

He added, "The Ministry of the Interior and Safety will match overpopulated large cities with provincial cities facing population decline and sign MOUs. Through cooperation between the two cities, the policy aims to create complex residential complexes in provincial cities equipped with hospitals, sports facilities, welfare centers, and recreational facilities."

A special law will be enacted to simplify the approval and construction procedures for silver towns, expanding them for the working class and middle class. This is to ensure that silver towns do not become another source of disparity as the society approaches a super-aged stage.

The People Power Party also plans to expand the construction of welfare housing for the elderly with mobility difficulties to ensure their housing stability. To this end, they plan to introduce various welfare services and support facilities within elderly welfare housing.