Busan Urban Corporation to Provide Purchased Rental Housing for Child Housing Poverty Households

Permanent Applications Open for 20th Housing Stability Supply Until Fully Allocated

Busan Metropolitan Corporation (BMC), in cooperation with Busan City, is implementing a housing support project to provide public purchase-rental housing for child housing-poor households living in poor residential environments.

Purchase-rental housing refers to public rental housing where BMC acquires multi-family or multi-household homes in urban areas, renovates them, and rents them out at prices lower than the market rate. For this project targeting child housing-poor households, a total of 20 units will be supplied as a pilot program.

The units will be offered with a deposit of 500,000 KRW and a monthly rent set at around 30% of the prevailing market rate. To minimize the burden of relocation for these households, Busan City will also provide moving expenses and daily necessities.

Eligible applicants are “members of non-homeowner households residing for more than three months with children under the age of 18 in housing conditions below the minimum residential standards as defined in the Busan Metropolitan City Guidelines for Housing Support for Vulnerable Groups,” and must meet income and asset requirements.

Applications have been accepted since the 5th and will continue until all 20 units are allocated. Applicants can apply in person at their local administrative welfare center.

After application submission, the relevant district office will verify income, assets, and other qualifications, and then notify BMC of the list of eligible residents. BMC will then match applicants with available units based on their preferred residential area and household size, and proceed with signing the lease contracts.

For detailed criteria and information about the purchase-rental housing support project for child housing-poor households, please refer to the ‘Rental Announcement’ section on the Busan Metropolitan Corporation website.

Kim Yonghak, President of Busan Metropolitan Corporation, stated, “We hope this support project will help improve the residential environment and housing stability for child housing-poor households in the region. We plan to actively work towards ensuring housing stability so that children in welfare blind spots can grow up in a safer and more pleasant environment.”