MOU to Be Signed with LH in the First Half of the Year
Mayor Lee: "Attracting Young Adults Is Key to Building a Self-Sufficient City of 500,000"
Osan City in Gyeonggi Province is promoting the supply of 2,500 rental apartments for young adults and newlyweds in the Segyo 2 District.
On the 13th, Osan City announced that it recently reached a consensus with the Korea Land and Housing Corporation (LH), the project implementer of Segyo 2 District, on this plan and intends to sign a memorandum of understanding (MOU) within the first half of the year.
Osan City is collaborating with Korea Land and Housing Corporation (LH) to supply rental housing for young newlyweds, consisting of 2,500 households, in Segyo 2 District. In March last year, Osan Mayor Lee Kwon-jae (left), who visited the LH Southern Gyeonggi Regional Headquarters, shook hands with LH President Lee Han-joon to strengthen cooperation between the institutions. Photo by Osan City
Through the agreement, the city will actively cooperate in administrative procedures such as permits, and LH plans to expand common spaces required for each type of rental housing and reflect an appropriate number of parking spaces.
This rental housing supply is an issue that Mayor Lee Gwon-jae of Osan, in his 8th term, has actively promoted since taking office in 2022 to attract younger populations. To this end, the city also conducted a survey on the housing status of local young adults and newlyweds.
According to the city’s survey report, the young population in Osan steadily increased during the population growth process since 2010 but shifted to a decline after 2021. In particular, a high proportion of young people moving out relocated to nearby Hwaseong City and other areas due to housing issues. Newlyweds showed the same trend as the young population.
During the proposal process for the rental housing project for young adults and newlyweds, Mayor Lee emphasized the need for supply by citing the proximity to the advanced system semiconductor national industrial complex being developed in Cheoin-gu, Yongin City, Idong and Namsa-eup, as well as the potential increase in jobs due to the creation of the Advanced Techno Valley and the allocation of new industrial complex volumes. He also pointed to the expansion of public transportation networks, such as the confirmation of the extension of the Seoul Metropolitan Area Express Train (GTX) Line C to Osan and the establishment of the Osan-Seoul Station metropolitan bus route, as reasons for the project’s necessity.
Mayor Lee said, "To build a self-sufficient city with a population of 500,000, it is important to attract young adults and newlyweds who will actively engage in economic activities. I will personally oversee the smooth progress of the project and actively collaborate with LH."
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