On June 26, the city announced that the Seoul Housing and Communities Corporation (SH) will begin accepting applications for 849 youth rental units and 56 dormitory-style units starting July 13.
This initiative aims to alleviate the housing cost burden for young people without homes. Eligible applicants who meet income and asset criteria can rent these units at significantly reduced rates for a maximum of 10 years.
The youth rental units are targeted at unmarried college students and job seekers aged 19 to 39 who do not own a home. Notably, 17 units are designated for full-time graduate students in science and engineering fields and postdoctoral researchers studying at universities in Seoul, referred to as 'Science and Engineering Talent Growth Housing.'
The dormitory-style housing will be available to current students at universities and graduate schools in Seoul, as well as young people aged 19 to 39.
Applications will be accepted from 10 a.m. on July 13 until 5 p.m. on July 15 through the SH online application system. The final results will be announced on November 20, with move-ins expected to begin in December.
The recruitment announcement will be posted on the SH website starting at 4 p.m. on June 26.
This housing initiative marks the official launch of 'The Dream House+,' a comprehensive brand for Seoul's youth housing policies. In March, the city revealed plans to add 25,000 units to the existing 49,000 youth housing units by 2030, aiming for a total of 74,000 units.
Choi Jin-seok, head of the Housing Policy Division at Seoul, stated, "We will do our utmost to provide a stable living environment so that young people can prepare for their futures without housing worries."
In addition to public rental housing, Seoul is expanding tailored housing policies for youth. The city plans to supply 600 units of the 'Baro Nae Jip' model, which allows young people to move in after paying only a deposit and then pay the remaining balance in installments over time, by 2030.
Furthermore, the city is promoting the 'Sae Ssak One Room' project, which utilizes private studio apartments near universities to support first-year students from outside the city, offering interest-free deposit assistance and a half-rent system to reduce housing costs.
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.