Seoul's First Monthly Rent '10,000 Won Youth Housing' This Good?

Dongjak-gu Yangnyeong Youth Housing, Opening Ceremony on the 30th... Basement 1 to 5 Floors, Equipped with Youth-Specialized Facilities

Move-in has begun for affordable housing in the heart of Seoul where residents can live by paying only 10,000 won per month in rent.

Dongjak-gu (District Mayor Park Il-ha) announced that it will hold the opening ceremony of the 10,000-won housing project, ‘Yangnyeong Youth Housing (275 Sangdo-dong),’ the first of its kind in Seoul, on the 30th to alleviate the housing cost burden for young people.

The opening ceremony will start at 3 p.m. with a congratulatory speech by Mayor Park Il-ha of Dongjak-gu, followed by a ribbon-cutting ceremony, facility tours, and youth policy briefings.

‘Yangnyeong Youth Housing’ is a public rental housing facility directly operated by the district, newly constructed on the site of a former public parking lot. The complex has a total floor area of 3,229㎡, consisting of one basement floor to five above-ground floors, including 36 units of youth-specialized housing, public parking, and other facilities.

The monthly rent is 10,000 won, about 10% cheaper than existing public rental housing. This was made possible by the district’s investment agency, ‘Republic of Korea Dongjak Corporation,’ which used profits from its first regional contribution project to support youth housing rent subsidies.

The deposit is also being prepared to be set at about half of the existing 14 million won.

The basement to first floor is a parking lot, and the second floor is a shared facility space for young residents. To support the independence of tenants and local youth, tailored youth-specialized services such as ▲‘Youth Council’ meetings ▲employment and entrepreneurship education ▲healing programs will be provided, establishing a virtuous cycle system.

The third to fifth floors above ground consist of units approximately 35㎡ each, fully equipped with refrigerators, drum washing machines, air conditioners, electric cooktops, range hoods, and integrated furniture, making it a fully furnished newly built youth housing.

The target residents are young people aged 19 to 39 without housing who earn less than 50% of the average monthly income.

Last year, the district announced recruitment, announced the selected tenants in February this year, and completed room assignments through a public lottery. Move-in will proceed sequentially from the 24th through June.

Going forward, the district plans to expand the 10,000-won housing project by establishing related systems for public rental housing directly supplied and operated by Dongjak-gu to stabilize housing for young people.

In the second half of this year, the district plans to provide ‘jeonse rental housing’ directly secured by the district for low-income single young households and young newlyweds, allowing them to live by paying only 10,000 won per month in rent.

Park Il-ha, Mayor of Dongjak-gu, said, “The 10,000-won housing is a groundbreaking support measure for low-income young people and young newlyweds who face heavy housing cost burdens in the heart of Seoul. We will not only operate youth rental housing but also expand various programs to support youth independence.”