Gov't to provide 60,000 additional housing units in Seoul: finance chief
Finance Minister Koo Yun-cheol speaks during a meeting of ministers related to real estate policy at the government complex in Seoul, Thursday. Yonhap
The government will supply an additional 60,000 housing units in the Seoul metropolitan area mostly for young people and newly married couples, Finance Minister Koo Yun-cheol said Thursday.
The latest housing supply measures for Seoul and neighboring Gyeonggi Province build on the government's pledge made in September to construct more than 1.35 million homes nationwide by 2030.
"The government plans to swiftly provide a total of 60,000 housing units by utilizing idle land in central Seoul with good transportation access, including 28,000 units on state-owned land," Koo said at a meeting of ministers related to real estate policy.
Koo said the units will be primarily allocated to young people and newly married couples to ease housing concerns among the younger generation.
He added that the government will continue to identify additional sites for the urban housing supply and announce further plans as preparations are completed.