Changwon Special City to Promote Private Sector-Participated Youth Housing Support Project

Remodeling Support of 100 Million Won for Eligible Housing Units

Changwon Special City in Gyeongnam announced on the 30th that it will promote a private participation youth housing support project.

Changwon Special City Hall.

The private participation youth housing support project is a program that remodels old houses in the city center with the participation of local residents and then supplies them to young people at less than 50% of the market rent.

About 100 million KRW will be provided for remodeling the houses eligible for support. The project will be carried out in cooperation with Changwon City, Gyeongsangnam-do, and Gyeongnam Development Corporation.

Changwon City will be responsible for selecting and managing the supported houses, Gyeongnam Development Corporation will handle the remodeling and the initial recruitment of tenants, and Gyeongsangnam-do will provide overall support and management for the project.

The city will be accepting applications for the "Private Participation Youth Housing Support Project" from October 1 to October 31. Applications can be submitted in person at Changwon City Hall (Housing Policy Division), district office Building Permit Divisions, local Administrative Welfare Centers, or online through the Changwon City Youth Information Platform.

Shin Seonggi, Head of the Housing Policy Division, stated, "We expect the private participation youth housing project to help ease the housing cost burden for young people. We will continue to do our best to develop youth housing support policies."

Meanwhile, in August, the city became the first among local governments nationwide to establish a "Comprehensive Youth Housing Plan." As the first step in the youth housing project, the future progress of the initiative is drawing attention.