Selection of 7 Tenants for 'Dongjak-type Ten Thousand Won Housing'... Competition Rate 14 to 1

Countdown to Public Housing Move-in This Month

The move-in countdown has begun for the Dongjak-type youth newlywed couple jeonse rental housing in the heart of Seoul, where residents can live by paying only 10,000 won per month.

View of Dongjak District Office. Provided by Dongjak District.

According to Dongjak-gu (District Mayor Park Il-ha) on the 2nd, over 100 people applied for the recruitment of 7 households for the ‘Dongjak-type Ten Thousand Won Housing,’ resulting in a competition rate exceeding 14 to 1. The district selected the final tenants through a lottery among qualified applicants who passed the eligibility and income-asset screening, and announced the results on the district office website on the 27th of last month.

This jeonse rental housing targets young newlywed couples aged 19 to 39 without home ownership. The district signs jeonse contracts with landlords of houses within the district and then subleases them to the selected newlywed tenants.

The rental deposit is 5% of the jeonse deposit, and the monthly rent is 10,000 won, the same as the ‘Yangnyeong Youth Housing,’ which was the first of its kind created by a Seoul autonomous district last year.

Using designated donations from the profits of the district’s invested institution, Korea Dongjak Corporation, the district supports the difference in monthly rent and supplies public rental housing with a ‘monthly rent of 10,000 won’ to young newlywed couples with an income below 120% of the median income.

The district will open the houses to the selected tenants and sign contracts within this month, then begin full-scale move-ins. The rental period is two years (with one possible extension), and in case of move-out, individual notifications will be sent according to the order of 21 separately selected standby tenants.

District Mayor Park Il-ha said, “I hope the Dongjak-type youth newlywed couple jeonse rental housing becomes a warm hope for young people struggling with housing issues,” and added, “We will continue to spare no support in various fields such as housing, employment, start-ups, welfare, and culture to make Dongjak-gu a place where young people can realize their dreams and want to stay.”