Daegu Urban Development Corporation Freezes Rent for 3,200 Rental Housing and Commercial Units for One Year

Daegu Urban Development Corporation (President Jeong Myeong-seop) announced on the 5th that it will freeze the rental deposits and rents of public rental housing and rental stores for one year starting in April to alleviate the housing cost burden of vulnerable residents who are struggling due to rapid inflation.

The public rental housing supplied and managed by Daegu Urban Development Corporation includes about 10,000 households in permanent rental, purchased rental, national rental, and happy housing, and the current target includes about 3,200 households residing in rental housing and stores who are scheduled for renewal or new contracts.

Daegu Urban Development Corporation

Although rental deposits and rents of rental housing can be increased annually within 5% considering inflation, Daegu Urban Development Corporation has frozen rental deposits and rents for 9 years since 2016 (based on purchased rental housing) to ease the housing cost burden of residents.

Jeong Myeong-seop, president of Daegu Urban Development Corporation, stated, “We will continuously strive to alleviate the housing cost burden of rental housing residents and fulfill our social responsibility as a public enterprise to ensure stable living during difficult times.”

Meanwhile, the corporation is promoting a remodeling project for aging public rental housing to improve the living environment of vulnerable groups and increase energy efficiency. From 2021, 1646 households and 13.9 billion KRW have been invested over four years, and in 2025, 300 households and 8.2 billion KRW are planned to be invested.