Young People Sigh Over Housing Market Uncertainty... Government to Redesign Its Housing Ladder in the Second Half

[Financial News] The government will unveil a "Housing Welfare Roadmap" in the second half of the year to strengthen support for young people, newlyweds and housing-vulnerable groups. As instability in the jeonse and monthly rental markets continues, the plan aims to reinforce the housing ladder with a comprehensive package covering public housing supply, finance and welfare support.
On the 24th, Kim Yi-tak, first vice minister of the Ministry of Land, Infrastructure and Transport, appeared on KTV and said the Housing Welfare Roadmap is being prepared and will be announced in the second half of the year.
Kim said, "The Cabinet plans to put everything on the line to boost housing supply and stabilize the jeonse and monthly rental markets," stressing that the living conditions of young people, newlyweds and housing-vulnerable groups are important.
The government plans to supply more than 25,000 homes for young buyers on well-located public land by 2030. It will also push ahead with rental housing that offers middle-class-level quality.
The Housing Welfare Roadmap is a comprehensive policy package that lays out tailored support measures for housing-vulnerable groups, including young people, newlyweds, elderly households and low-income families. The previous roadmap included public housing supply, financial support, housing benefits, renovation of permanent rental housing and redevelopment of jjokbangchon, or cramped room districts. It was first announced in 2017, and in 2020 the government released "Housing Welfare Roadmap 2.0," which reflected implementation results and follow-up tasks.
In a work report last December, the government said it would present its new housing welfare policy direction, including a five-year public housing supply plan, in the first half of this year. That announcement has now been pushed back to the second half. Since the launch of the current government, no separate comprehensive housing welfare package has been released, drawing attention to the details of the support measures and the implementation schedule.

[email protected] Jang In-seo Reporter