Korea Land and Housing Corporation (LH) is expanding its housing welfare programs from protecting vulnerable groups to supporting youth and newlyweds who form the backbone of society. The initiative aims to ease housing burdens through lifecycle-based customized support, helping them fulfill their roles as members of society.
Housing stability for young people and newlyweds has become a key government priority. Through its "January 29 Measures" this year, the government announced plans to supply 60,000 housing units in Seoul and the metropolitan area by utilizing idle urban land and aging public buildings, with a focus on young people and newlyweds. The policy aims to reverse the trend of young people hesitating to marry and newlyweds giving up on having children as housing prices surge.
Overcoming the economic and social crisis caused by low birthrates and an aging population requires housing stability for youth and newlyweds above all else. This explains why LH's housing welfare programs have recently focused on supporting these groups. LH plans to allocate 60 percent (6,600 units) of the 11,000 purchased rental units to be supplied in the metropolitan area this year—including 3,000 units in Seoul—to youth and newlyweds. Based on LH's recent supply trends, approximately 50 to 65 percent of total rental units, including newly built purchased rentals, jeonse rentals, and Happy Housing, are allocated to youth, newlyweds, and families with newborns. This suggests more than 30,000 rental units for youth and newlyweds are expected this year.
Support for youth and newlyweds is divided into three main categories: purchased rentals, jeonse rentals, and Happy Housing. Purchased rental housing requires meeting homeless status, income, and asset criteria along with additional conditions. Youth purchased rentals are available to those aged 19 to 39, university students (including prospective enrollees and returning students), and job seekers (unemployed individuals within two years of graduating or dropping out of high school or university).
Starting in 2024, the "newlywed" category was renamed "newlywed and newborn," granting first priority and preferential status to households with newborns. Eligibility is divided into Type I (low-income) and Type II (middle-income) based on income criteria. Eligible applicants include newlyweds married within seven years of the announcement date, as well as engaged couples who complete their marriage registration by the day before move-in. Single-parent families, married couples with children, and households with newborns are also eligible.
Unlike purchased rental housing, where LH buys existing units and rents them below market rates, jeonse rental housing is also popular. Under this program, eligible residents find their own housing, and LH signs a jeonse contract with the landlord before subleasing to the tenant. The program maintains a steady supply of around 10,000 units annually. The jeonse deposit support limit varies by housing type (detached or multi-family) and household size.
"Happy Housing," a public rental housing program, is supplied at 60 to 80 percent of market rates to help ease housing instability for young people, including youth and newlyweds. Dormitory-style youth housing, designed to provide university students with affordable accommodation comparable to dormitories, offers a deposit of 600,000 won and rent at 40 percent of market rates. Contracts can be renewed four times for two-year terms, allowing residents to stay for up to 10 years.
"Housing stability for youth and newlyweds is an important task that goes beyond simple housing supply to establishing the foundation for future generations' lives," an LH official said. "We are concentrating our capabilities on lowering initial housing cost burdens and creating stable residential foundations."
The official added, "We will push ahead with public housing projects for youth and newlyweds in third-generation new towns and urban areas without setbacks, while accelerating the supply of purchased and jeonse rental housing so that consumers can feel the difference on the ground."