Osan City and LH Sign MOU to Supply 2,500 Units of Lease-Purchase Rental Housing for Young Adults and Newlyweds

[Suwon Ilbo=Reporter Park Chan-hyuk] Osan City signed a memorandum of understanding (MOU) with LH (Korea Land and Housing Corporation) on the 24th in the afternoon, containing details including early construction of 2,500 units of lease-purchase rental housing for young adults and newlyweds.

At the MOU signing ceremony, Osan City Mayor Lee Kwon-jae and Kwon Woon-hyuk, Head of LH's Gyeonggi Southern Regional Division, signed the agreement.

The agreement included provisions to establish mutually cooperative systems for housing stability of young adults and newlyweds and regional economic revitalization, and to establish various measures for efficient business execution.

Specifically, LH committed to expand the supply of rental housing to young adults and newlyweds through lease-purchase rental housing projects, and to make efforts to secure community facilities for resident welfare. The city committed to implement integrated permit reviews for early construction and move-in of lease-purchase rental housing and to work to shorten permit processing times.

Currently, the city plans to supply 2,500 units of officetel to be utilized as lease-purchase rental housing on five unsold lots in the Segyo 2 District, and is carrying out administrative procedures for early construction.

Kwon Woon-hyuk, Head of LH's Gyeonggi Southern Regional Division, said, "Enabling young adults and newlyweds to reside with peace of mind is one of LH's major policies," and added, "LH will actively pursue the supply of lease-purchase rental housing for young adults and newlyweds in the Osan area."

Mayor Lee Kwon-jae stated, "To establish a 500,000-population self-sufficient era, it is important to attract young adults and newlyweds with vigorous economic activity," and added, "The mayor will personally oversee the smooth progress of the lease-purchase rental housing supply project."