Busan Urban Corporation Supplies 20 Purchased Rental Housing Units for Young Adults Preparing for Independence

Deposit of 1 Million Won,
Rent at 40% of Market Rate

Busan Urban Corporation (BMC, President Shin Changho) announced on July 10 that it is recruiting tenants for 20 units of purchased rental housing to support housing stability for young adults in the early stages of independence.

This housing supply targets young people who have recently exited foster care, those who have left child and youth welfare facilities within the past five years, and youth scheduled to leave such facilities. Any unmarried young adult without a home is eligible to apply.

BMC plans to reduce the economic burden by offering rent at about 40% of the market rate for a deposit of 1 million won, helping young adults establish a foundation for independence. The initial lease term is two years, and if eligibility requirements are met, tenants can stay for up to ten years.

This supply will be allocated on a first-come, first-served basis to ensure rapid assignment of housing, and BMC is considering expanding the number of units available depending on the number of applicants. Detailed information can be found in the announcement posted on the Busan Urban Corporation website.

Shin Changho, President of Busan Urban Corporation, stated, "By providing demand-tailored housing in areas with convenient urban transportation, we hope to offer practical support to young adults preparing for independence as they take their first steps as members of society." He added, "We will continue to expand customized housing supply for vulnerable groups in the future."