MOLIT Says No Decision Has Been Made on 'Publicly Supported Private Rental Housing for 20 Years or More'

[Financial News] The Ministry of Land, Infrastructure and Transport (MOLIT) rejected reports that the government would provide support for private long-term rental housing for 20 years or more, saying, "Nothing has been decided."
MOLIT made the statement on the 7th.
Some media outlets had previously reported that the government was seriously considering granting corporations an exemption from aggregation for comprehensive real estate tax purposes as an incentive to encourage their participation in the '20-year-plus long-term rental model' introduced under the Aug. 13 measures.
MOLIT explained, "The government announced the introduction of publicly supported private rental housing for 20 years or more under the Aug. 13 measures to encourage the supply of stable and affordable long-term private rental housing." It added, "To this end, we plan to strengthen financial support for operators by introducing long-term mortgage products secured by rental housing and expanding support from the Housing and Urban Fund, while also easing rent regulations."
It added, "Apart from strengthening financial support for operators and easing rent regulations, no other detailed measures have been decided as part of the current support plan." MOLIT continued, "No discussions have taken place with relevant ministries regarding tax benefits."

[email protected] Kyung-soo Jung Reporter