GS Construction's '129 Million Won' Second Home, Built in Just One Week

GS Construction Xi Geist Launches Affordable Modular Housing

GS Construction's subsidiary, Jaigaist, announced on the 16th that it has launched a new affordable modular housing product.

The new product is named 'Jaigaist RM (Real Modular),' signifying that it embodies the basics of modular housing. Most of the equipment, as well as interior and exterior materials, are installed in the factory, and by releasing a single model, costs have been reduced compared to existing modular products. The price per unit is 129 million KRW, and on-site construction takes one week after module transportation.

Photo of an affordable modular house launched by GS Construction's subsidiary, Zaigaist. (Provided by Zaigaist)

This is the first single model released by Jaigaist, with a total area of 58.6㎡. It features two bedrooms and one bathroom, and the kitchen and living room are designed to be connected as one space. The front of the house has a wide living room window, allowing the view to naturally extend to the yard.

Jaigaist released this affordable single model in response to the government's 'Second Home' activation policy. Recently, the government announced that to prevent regional extinction caused by population decline, household heads who already own one home and acquire an additional home priced under 400 million KRW in government-designated population decline areas will receive reductions in holding and transaction taxes.

Nam Kyung-ho, CEO of Jaigaist, said, "There has been significant demand from builders for small-scale housing development," adding, "We anticipate an increase in demand for mid-to-low priced small modular homes similar to ready-made products, and we proactively launched this product to promote the spread of second homes."

Meanwhile, modular housing refers to homes built by delivering factory-produced and assembled components such as building frames, wiring, plumbing, and insulation to the site for installation. Jaigaist is a modular detached housing specialist company established in 2020 as a 100% subsidiary of GS Construction. Last year, it established a production plant in Dangjin, Chungnam.