Seoul, South Korea – The Korea Land and Housing Corporation (LH) announced on [Date] that it will begin accepting applications for affordable rental housing for young adults, newlyweds, and middle-to-low-income households.

The rental housing program involves LH purchasing newly constructed or existing homes in urban areas with convenient transportation access and leasing them at affordable rates. A total of 2,814 units will be available nationwide, including 1,275 units for young adults and 1,539 units for newlyweds and families with infants.

Key Features of the Program:

Affordable Rent: Rental rates will be 40-50% below market rates.
Long-Term Leases: Tenants can reside in the units for up to 10 years, with the possibility of extending to 20 years for married couples.
Convenient Amenities: To cater to the needs of young adults who frequently move due to studies or employment, some units will be equipped with appliances such as refrigerators, washing machines, and air conditioners.
Diverse Options: The program offers various options, including shared houses, apartments, and officetels, to suit different needs and budgets.
Income and Asset Requirements: Income and asset requirements have been relaxed for newlywed couples with infants to provide greater support for middle-income households.

Application Process:

Applications will be accepted from [Start Date] to [End Date]. Successful applicants will be notified in January, and the final selection of tenants will be completed in March.

For more information, please visit the LH Housing Portal (apply.lh.or.kr) or contact the LH call center at 1600-1004.

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