Pocheon-si Issues 'Caution' for Recruiting Cooperative-type Private Rental Housing and Others

Mayor Baek Young-hyun: "Please Make Sure to Verify Approval Status with Pocheon City"

Pocheon City, Gyeonggi Province (Mayor Baek Young-hyun) recently urged investors to exercise special caution regarding the promotion of private rental housing currently underway in the Gachaeri area of Sinbuk-myeon.

Pocheon City Hall view. Provided by Pocheon City

Pocheon City identified that a developer has been installing promotional banners for the private rental housing project since the second half of last year and opened a promotional center in Minrak-dong, Uijeongbu City, to recruit members. Concerned about potential investment damages, the city issued this warning.

Pocheon City emphasized that while cooperative-type private rental housing projects can contribute to housing stability if they meet legal requirements and are operated transparently, participating without sufficient review at an early stage may lead to unexpected damages.

The city stated, “The Gachaeri private rental housing project (Pocheon Station OO Park) is known as a cooperative-type private rental housing project; however, the location has not been designated as an urban development zone under the Urban Development Act, nor has it been approved as private rental housing under the Housing Act and the Special Act on Private Rental Housing.”

Mayor Baek Young-hyun of Pocheon said, “Regarding the Sinbuk-myeon Gachaeri private rental housing, please be sure to verify the approval status with Pocheon City (Housing Division, Urban Policy Division). We ask that all contracts and investments be carefully reviewed before making any decisions.”