Jeonnam Development Corporation to Supply 'Jeonnam-style 10,000 Won Housing' in City Areas Following County Areas

【Financial News Muan=Hwang Taejong Reporter】Jeonnam Development Corporation will supply 'Jeonnam-style 10,000 Won Housing' in city areas following county (Gun) areas.
 Jeonnam Development Corporation announced on the 29th that it has signed a 'Business Agreement for the Supply of 10,000 Won Housing in City Areas' with the Gwangju-Jeonnam Regional Headquarters of Korea Land and Housing Corporation (LH), and will actively support housing stability for youth and newlyweds.
 Through this agreement, the two institutions will establish a cooperative system for the supply of public rental housing vacancies, and cooperate to respond to local extinction and induce youth and newlyweds to settle in the region.
 Specifically, LH Corporation will provide vacant public rental housing in a jeonse rental format to Jeonnam Development Corporation, which will then re-rent it to youth and newlyweds at affordable rates.
 Accordingly, tenants can live for two years by paying only a certain amount of deposit and a monthly rent of 10,000 won without a security deposit, and can extend up to two times for a total of six years.
 Considering that the existing 'Jeonnam-style 10,000 Won Housing' was constructed and supplied mainly in county (Gun) areas, this agreement targets city (Si) areas where the youth population is high and securing public rental housing is relatively easy.
 Jeonnam Development Corporation plans to review areas where initial supply is possible as a pilot and recruit tenants from the second half of this year, and will continue to expand supply through ongoing consultations with LH Corporation.
 Jang Chungmo, President of Jeonnam Development Corporation, said, "This city area 10,000 Won Housing project is part of various policy efforts to create a foundation for youth and newlyweds to settle in the region amid the urgent situation of local extinction crisis," and added, "We will continue to actively support Jeonnam Province's housing welfare policy to help youth settle in the region by expanding housing stability policies."
hwangtae@fnnews.com Hwang Taejong Reporter