Korea Land and Housing Corporation (LH) announced on April 21 that it is recruiting preliminary tenants for 6,174 units in 49 complexes nationwide for the Haengbok Rental Housing program. Haengbok Rental Housing is a public rental housing initiative aimed at supporting young people such as university students, young adults, newlyweds, as well as vulnerable groups including the elderly and low-income earners.
In the Seoul metropolitan area, 1,521 units across 18 complexes will be available, while in non-metropolitan regions, 4,653 units across 31 complexes will be offered. Announcements for each complex in the metropolitan area will be released sequentially starting April 21, and for non-metropolitan areas starting April 28. Applications will be accepted beginning April 29. After passing the eligibility verification process and being selected as a preliminary tenant, applicants will wait for a vacancy before moving in according to the order of selection.
Eligibility requirements include a household monthly average income at or below 100% of the median, asset limits (for example, up to 104 million KRW for university students), and a vehicle value limit of 38.03 million KRW. Rents are set at up to 80% of market rates, and tenants may reside for 10 to 20 years depending on the housing type. Under revised regulations, households with children under the age of two are eligible for priority allocation for up to 30% of the available units. In the previous round of preliminary tenant recruitment for public rental housing last month, 70,000 applicants competed for approximately 25,000 units across 359 complexes.
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