[Changes in the Second Half] Eased Resale Restrictions on Public Housing Land... Improved Market Liquidity

Starting in the second half of this year, regulations restricting the resale of multi-family housing sites supplied within public housing land will be partially eased. The government has decided to exceptionally allow resale if certain conditions are met.

Exceptions Allowed for Public Support Rental REITs and After Two Years

Previously, the resale of multi-family housing sites supplied on public land was completely restricted until the transfer of ownership registration. However, for real estate investment trusts (REITs) that are promoting public support private rental housing, resale will now be permitted even before the transfer of ownership registration.

This measure is intended to strengthen the business capabilities of REITs leading public rental supply and to improve market liquidity.

In addition, exceptions will also apply to general private operators other than REITs under certain conditions. If more than two years have passed since the contract date for the public land, resale will be temporarily permitted for one year, starting from June 30, 2025. However, resale will only be allowed at or below the original supply price, and transactions between affiliated companies will be strictly prohibited without exception.

This serves as a safeguard to prevent speculative transactions between related parties and to encourage supply based on actual demand.

Multi-Family and Officetel Units in Urban Areas Also Eligible for Rental Registration... Enhanced Tenant Protection

The government will also introduce a new "six-year short-term rental type" to the existing apartment-centered registered rental housing system and expand its coverage to include non-apartment housing.

This system, which began last month, applies to officetels, multi-family, and row houses that meet registration requirements. If the owner commits to renting for at least six years, tenants will be legally guaranteed the right to reside during the mandatory rental period.

Previously, the non-apartment rental market was outside the institutional framework, resulting in insufficient tenant protection. This measure now allows such housing to be included within the system.

Yonhap News

AI CCTV to Monitor Railway Stations in Real Time... Gradual Expansion Starting with Major Stations Like Seoul Station

The government will also introduce an artificial intelligence (AI)-based CCTV system in railway stations to prevent crime and safety accidents. The AI CCTV is designed to analyze behavioral patterns in video footage, detect abnormal or dangerous actions in real time, and immediately alert the control center for a prompt response.

For example, if the AI detects abnormal movements on the platform, prolonged stays, or attempts to access the tracks?behaviors with a high risk of accidents?the system will enable security personnel to respond immediately.

The system is also equipped with video storage and the ability to accumulate facial and behavioral recognition data, which can be used for cause analysis and follow-up measures in case of an incident. Installation will begin with major stations such as Seoul Station, Suseo Station, and Daejeon Station, and is scheduled to be completed at major stations nationwide by the end of 2025.