Seoul, South Korea – In a bid to address the country's declining birthrate, the South Korean government has announced a significant overhaul of its housing policy for newlyweds. The Ministry of Land, Infrastructure and Transport will increase the quota for newlywed couples with newborns in government-subsidized housing.

Under the revised regulations, couples with children aged two and under, whose combined monthly income falls below 100% of the previous year's average urban worker's household income, will see their priority allocation rate increase from 15% to 25%. Additionally, couples with newborns earning up to 120% of the average urban worker's income will now be eligible for a 10% priority allocation, a 5% increase from the current rate.

To accommodate these changes, the quota for newlywed couples without children will be reduced from 50% to 35%. This adjustment aims to prioritize housing for families with young children and encourage childbirth.

The government estimates that approximately 16,100 housing units per year will be allocated to newlywed couples with newborns. This represents a 35% share of the total 46,000 housing units expected to be available annually under the revised policy.

"This policy change is a direct response to the urgent need to support young families and encourage childbirth," said [Government Official's Name], [Position] at the Ministry of Land, Infrastructure and Transport. "By providing more affordable housing options for couples with newborns, we aim to alleviate some of the financial burdens associated with raising a family."

The government has also indicated its intention to increase the overall proportion of government-subsidized housing allocated to newlywed couples from 18% to 23%. This means that an even larger number of young couples will have access to affordable housing options.

[ⓒ Global Economic Times. 무단전재-재배포 금지]