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Busan Urban Corporation, 10:1 Competition Rate for Prospective Tenants of Redevelopment Rental Housing

Jangjeon 1-2, Udong 2, Minrak 1, Daeyeon 1 Districts: 60 Units

631 Applications Received, Residents to Be Announced at End of November

Busan Metropolitan Corporation (BMC, President Kim Yonghak) announced on the 6th that a total of 631 applicants have applied for the recruitment of 60 preliminary tenants for redevelopment rental housing in four complexes: Jangjeon 1-2 (Byeoksan Blooming Jangjeon Design City), Udong 2 (Haeundae Xi), Millak 1 (The Sharp Centum Foret), and Daeyeon 1 (Daeyeon Lotte Castle).


Redevelopment rental housing is a system in which rental housing built through housing redevelopment projects for the residential stability of low-income households is purchased by Busan City in accordance with the Urban and Residential Environment Improvement Act, and then entrusted and operated by Busan Metropolitan Corporation.


Since 2013, starting with the Jangjeon 1-2 district, BMC has supplied a total of 728 units in 11 districts to homeless households residing in Busan. Last month, a recruitment announcement was made for preliminary tenants for four redevelopment rental housing complexes.


During this recruitment process, BMC made efforts to enhance citizen convenience by accepting electronic applications through the 'BMC Electronic Application Center' as well as providing on-site consultations and applications for those who have difficulty using the internet.


As a result, 631 people applied for the 60 available preliminary tenant spots for redevelopment rental housing, recording a competition rate of 10:1.


On September 3rd, BMC selected a total of 180 candidates, three times the number of available units, and announced the list of those eligible to submit documents.


Candidates eligible for document submission can submit their supporting documents via the 'BMC Electronic Application System' or registered mail between the 9th and 10th. Once the document review is completed, verification of eligibility for redevelopment (national) rental housing?such as assets, income, and homelessness?will be conducted through the Social Security Information System, and the final list of preliminary tenants will be announced at the end of November.


Kim Yonghak, President of Busan Metropolitan Corporation, stated, "We expect customer satisfaction to improve through non-face-to-face processing using the BMC Electronic Application System, and we will continue to consider customized supply plans to meet diverse needs." He added, "We will do our best to ensure the residential stability of Busan citizens by providing a safe and pleasant living environment and customized housing welfare."

Busan Urban Corporation, 10:1 Competition Rate for Prospective Tenants of Redevelopment Rental Housing Busan Urban Corporation



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