SH Corporation to Recruit 853 Long-Term Lease Housing Units Including Olympic Park Foreon

Applications Open from the 8th of Next Month

Seoul Housing and Communities Corporation (SH Corporation) announced on the 27th that it will recruit 853 long-term lease housing units, including Olympic Park Foreon in Gangdong-gu.

Long-term lease housing, also known as 'SHift,' is a housing support project that allows residents to live for up to 20 years. SH Corporation posted the tenant recruitment announcement on the same day and will start accepting applications from the 8th of next month.

The new supply consists of 746 units in one complex, Olympic Park Foreon (Dunchon Jugong Reconstruction). The resupply includes 107 units in 20 complexes across six autonomous districts in Seoul, including Gangdong-gu and Mapo-gu. The resupply process involves pre-selecting waiting applicants and recruiting reserve tenants.

Applicants must be adults residing in Seoul as of the announcement date and members of a household without a home. They must also meet income, real estate, and vehicle ownership criteria depending on the housing type. For units under 85㎡ exclusive area, application priority is determined by income conditions, residence, and the number of times subscribed to the comprehensive subscription savings. For units over 85㎡, priority is based on the amount deposited and the subscription period of the subscription savings.

Priority supply targets include caregivers of elderly parents, households with two or more children, elderly persons, multi-child families (three or more children), national merit recipients, and urban workers with an average monthly income of 70% or less. Special supply is provided to newlyweds.

Applications can be submitted from the 7th to the 15th of next month, and the announcement of document screening candidates is scheduled for August 9th. Move-in for new complexes will begin in December this year.

SH Corporation stated, "Long-term lease housing is rental housing supplied through a lease contract," and added, "Currently, there are no plans for any special sales or sales of these units, so we ask citizens to be cautious of any rumors that differ from these facts and to avoid any damages."