Gangwon Province to Supply 10,000 Public Rental Housing Units for Youth

Gangwon Province has announced an ambitious plan to provide 10,000 public rental housing units by 2030, with a strong emphasis on supporting young people, newlyweds, and military families. This initiative builds upon the province's existing commitment to supply 4,000 units, adding an additional 6,000 units to meet the growing demand for affordable housing.

The new supply will be divided into two main categories: 3,000 "construction-type" public rental housing units, which require three to four years for design and completion, and 3,000 "acquisition-type" units secured through purchasing existing homes or securing long-term leases. A key component of the "construction-type" units is the "Gangwon-type Cheongcheong Stay" project, which will offer 1,800 units designed to integrate living and working spaces, including co-working areas and startup facilities.

Governor Woo Sang-ho has designated the expansion of public rental housing for young people as one of the four major provincial tasks, aiming to foster a "clean and young Gangwon" where youth can reside and grow with the region. The "Gangwon-type Cheongcheong Stay" units will offer rents below market rates and are available to non-homeowners with incomes below 150% of the median income, with a maximum residency period of 30 years.

To facilitate broader participation, Gangwon Province is also considering removing the previous limit of one project per city or county and increasing provincial funding support from the current maximum of 4 billion won. Discussions are also underway with the Korea Land and Housing Corporation (LH) to expedite construction timelines. These measures are being implemented in response to a significant demographic shift, with Gangwon Province experiencing a decrease of approximately 80,000 young residents over the last decade.