Gyeongbuk Development Corporation Opens Applications for 11 Gumi Youth Rental Units... Supplying 2,000 Rental Homes by 2026

Gyeongbuk Development Corporation (President Lee Jae-hyuk) has finalized the public announcement for the supply of youth public rental housing in the Gumi area and revealed the tenant recruitment plan on the 12th. A total of 11 units will be supplied, and the eligibility criteria have been significantly relaxed to increase the occupancy rate of public rental housing.

The eligibility for applying for the youth public rental housing in the Gumi area is unmarried youth without home ownership who meet certain income requirements, and qualified applicants can reside for up to 10 years.

Gyeongbuk Development Corporation.

Detailed information can be found on the rental announcement board of the Gyeongbuk Development Corporation website, and applications must be submitted by registered mail between June 3 and June 28.

Purchased rental housing refers to existing multi-family or other houses that are purchased and renovated, then supplied at prices lower than market rates so that youth, newlyweds, and others can live stably near urban centers and universities. Residents can live under rental conditions that are less than 50% of the surrounding market prices.

Gyeongbuk Development Corporation launched the public housing brand ‘Ondanchae’ and established a housing welfare roadmap to supply 2,000 households by 2026, including 200 units of Happy Housing, 1,000 units of purchased rental housing, and 800 units of public rental housing. Accordingly, the first purchased rental housing project was implemented in 2022, with 150 existing houses purchased primarily in Gumi and Gyeongsan, where the youth population is high.

Additionally, starting in the second half of this year, the corporation plans to continuously promote the supply of public rental housing for vulnerable groups such as youth and newlyweds, targeting newly built and existing houses located in Pohang, Gyeongju, Gyeongsan, and Chilgok.