HDC Hyundai Development and Korea Habitat Sign MOU
Support for Insulation, Waterproofing, Wallpaper and Flooring Replacement
The Seoul Metropolitan Government has rolled up its sleeves to improve the housing environment for vulnerable groups.
Yoo Chang-soo, Deputy Mayor for Administration of Seoul, is taking a commemorative photo with Kim Hoe-eon, CEO of HDC Hyundai Development Company, and Lee Kwang-hoe, Secretary General of Korea Habitat, at the "Seoul Residential Safety Public-Private Cooperation Project Business Agreement Ceremony" held at Seoul City Hall on the 17th. From the left, Secretary General Lee, Deputy Mayor Yoo, and CEO Kim. Photo by Seoul City.
On the 18th, the city announced that on the 17th, it signed a business agreement for the 'Safe Housing Partnership Public-Private Cooperation Project' to support the improvement of housing conditions for vulnerable groups with HDC Hyundai Development Company and Habitat for Humanity Korea at Seoul City Hall. The signing ceremony was attended by Yoo Chang-soo, Deputy Mayor for Administration of Seoul, Kim Hoe-eon, CEO of HDC Hyundai Development Company, and Lee Kwang-hoe, Secretary General of Habitat for Humanity Korea.
Under this agreement, the city will provide administrative support such as selecting beneficiary households. HDC Hyundai Development Company will sponsor 200 million KRW for home repair projects, and Habitat for Humanity Korea will be responsible for customized construction for each household.
The support targets residents of low-rise houses such as semi-basement rooms, rooftop rooms, and those living in houses below the minimum residential area (26㎡ for a two-person household). Approximately 10 households will be supported. The target households will receive assistance for improving housing performance such as insulation and waterproofing, as well as interior environment work such as wallpaper and flooring replacement.
The city, HDC Hyundai Development Company, and Habitat for Humanity Korea plan to carry out the construction aiming for completion in the first half of next year. This is to ensure that vulnerable residents living in semi-basements and similar housing can spend the rainy season in a safe and comfortable environment.
Meanwhile, since 2022, the city has completed home repairs for 77 vulnerable households. The goal for next year is to support a total of 50 households.
Deputy Mayor Yoo said, “I would like to express my gratitude to HDC Hyundai Development Company, which newly joined as a sponsor in agreement with the purpose of the project, and Habitat for Humanity Korea, which has been responsible for construction since the early stages of the project. We will work to eliminate blind spots in housing welfare for vulnerable groups who worry about flooding during the rainy season and endure severe cold in winter by collaborating with more companies and non-profit organizations.”
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