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

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

According to Gyeonggi Province on the 30th, the "Special Law on Mixed-Use Development of Aging Public Buildings," which includes measures proposed by the province to the government in September of last year—including the expansion of housing supply for youth and newlywed couples in mixed-use development of aging public buildings, financial support, and establishment of a mechanism to coordinate differences among related organizations—passed the National Assembly on the 20th.

Mixed-use development of aging public buildings refers to projects that develop dilapidated community centers, post offices, and fire stations together with public rental housing and other uses. Typically, lower floors house existing public institutions such as community centers and post offices along with convenient living facilities, while upper floors are developed as apartments to be used for housing supply such as public rental housing.

Gyeonggi Province previously proposed in September of last year: △Priority supply of apartments supplied through mixed-use development of aging public buildings to youth and newlywed couples; △Government budget or fund support for mixed-use development of aging public buildings; △Introduction of a system to coordinate differences of opinion among related organizations; and △Reduction of user fees for state-owned property.

This bill includes provisions for priority housing supply to groups in need of housing support, including youth and newlywed couples. It also allows for reduction of financial support from the state and local governments as well as user fees and loan fees incurred when using land and buildings.

The special law is scheduled to take effect six months after its promulgation. Going forward, Gyeonggi Province plans to consult with the government to ensure that on-site opinions are reflected in the process of establishing detailed standards, including the target recipients for housing supply and financial support methods.

Kim Tae-su, Director of the Housing Policy Division of Gyeonggi Province, said, "The passage of this special law has established a solid legal and institutional foundation for supplying quality rental housing in urban areas," and added, "We will continue to consult with the government for housing stability for residents through stable supply of public rental housing."