Gyeonggi Province Proposal: Priority Housing Supply for Youth and Newlywed Couples at Aged Public Buildings Now Possible

Housing supply projects utilizing aging public buildings such as community centers and post offices are expected to accelerate.

According to Gyeonggi Province on the 30th, the "Special Act on Mixed-Use Development of Aged Public Buildings," which contains measures proposed by the province to the government in September last year—including expansion of housing supply for youth and newlywed couples through mixed-use development of aged public buildings, financial support, and establishment of coordination mechanisms among relevant agencies—passed the National Assembly on the 20th.

Mixed-use development of aged public buildings refers to projects that redevelop deteriorated community centers, post offices, and fire stations in combination with public rental housing and other facilities. Typically, lower floors house existing public institutions such as community centers and post offices along with life convenience facilities, while upper floors are developed as apartments used for housing supply including public rentals.

Gyeonggi Province had previously proposed in September last year △priority supply of apartments provided through aged public building mixed-use development to youth, newlywed couples, and other groups △government budget or fund support for aged public building mixed-use development △introduction of a coordination system for cases where relevant agencies have differing opinions △reduction or waiver of national property usage fees.

The bill includes provisions for priority supply of housing to populations in need of residential support, such as youth and newlywed couples. It also allows for reduction or waiver of financial support from the state and local governments, as well as usage fees or loan charges incurred when using land and buildings.

The special act is scheduled to take effect six months after promulgation. Gyeonggi Province plans to continue consulting with the government to ensure that field opinions are reflected in the process of establishing detailed standards regarding housing supply targets and financial support methods.

Kim Tae-su, director of the Housing Policy Division of Gyeonggi Province, stated, "With the passage of this special act, a solid legal and institutional foundation has been established for supplying quality rental housing in urban areas. We will continue to consult with the government to ensure residential stability for residents through stable supply of public rental housing."