HUG Donates 300 Million Won Despite Three Years of Deficits... Improving Housing for Vulnerable Groups

Fulfilling Public Institution Responsibilities...
Commended by the Minister of Land, Infrastructure and Transport

The Housing and Urban Guarantee Corporation (HUG) announced on the 4th that it will donate 300 million KRW to improve aging houses in urban vulnerable areas.

On the previous day, HUG signed a business agreement for the 'Public-Private Partnership Aging House Improvement Project' with seven organizations including the Ministry of Land, Infrastructure and Transport, the Local Era Committee, KCC, and Commax, and began full-scale support. Participating organizations pledged not only donations but also the provision of building materials and participation in volunteer activities. On the same day, HUG received a commendation from the Minister of Land, Infrastructure and Transport in recognition of its contributions to supporting the project in 2024.

On the 3rd, at the Housing and Urban Guarantee Corporation (HUG) Seoul Western Branch in Yeouido, Seoul, participants from HUG and other involved organizations are taking a commemorative photo at the '2025 Public-Private Partnership Old Housing Improvement Project Business Agreement Ceremony.' Photo by HUG

The Public-Private Partnership Aging House Improvement Project is a project in which the government, public institutions, private companies, and non-profit organizations jointly participate to improve residential environments in areas lacking basic living infrastructure. The core focus is on improving fundamental housing conditions such as safety and hygiene.

In addition to this donation, HUG has invested a total of 1.95 billion KRW since 2018 to support repairs for approximately 1,100 aging households. This year, it plans to invest an additional 300 million KRW.

Despite challenging financial conditions, HUG continues to support housing improvements for vulnerable groups. According to the recently disclosed '2024 Financial Statement,' last year's net loss was 2.5198 trillion KRW, marking a deficit for three consecutive years.

The corporation plans to continue its support projects based on its social responsibility as a public institution. A HUG official stated, "As a public institution responsible for the stability of national housing, we are very honored to contribute to improving the housing environment for vulnerable groups," adding, "We will continue to fulfill our responsibilities through various social contribution activities."