(This article was originally posted on TV Chosun on August 14^th, 2024 in Korean and translated. See the original article through URL link below) 

URL: 노후청사 활용해 청년주택·시니어 레지던스 짓는다 (tvchosun.com) 

22,000 Housing Units to be Supplied in Yongsan and Songpa

The government plans to supply 22,000 housing units for young people in areas like Yongsan and Songpa in Seoul by 2035, utilizing national land. In areas such as Jongno and Gwanak, "startup dormitories" will be established for university students aspiring to start their own businesses, while "senior residences" will be created in places like Gangseo and Wonju in Gangwon Province for the elderly.

Deputy Prime Minister and Minister of Economy and Finance, Choi Sang-mok, held a "National Property Policy Deliberation Committee" meeting today, where the 2025 National Property Comprehensive Plan, including these details, was reviewed and approved.

To alleviate the housing burden for young people, newlyweds, and others, the government will develop old government buildings and military base relocation sites to supply 22,000 housing units by 2035. The plan is to build 1.5 to 2-room residential spaces on national land, such as the Yongsan flood control reservoir, the Daebang-dong military site, and the Gwangmyeong Worker Youth Welfare Center site.

Senior residences, which are housing spaces for the elderly, will be supplied through methods such as long-term leases (up to 50 years) of nationally-owned land developed under a trust model to private entities. The government plans to select project sites through consultations with local governments on national land in areas like Gangseo and Wonju by the first half of next year.

To encourage private entities to actively utilize national properties, the government is also pushing to amend the law so that national property sale proceeds, lease fees, and compensation fees can be paid by credit or check card. This expansion of the credit card payment system is in line with similar systems already in place for national taxes, local taxes, and national pensions.

Deputy Prime Minister Choi stated, "National properties that have seen delayed development will be temporarily utilized as parks, and small leftover plots of land with low utilization value will be made available for local governments to use as convenience spaces for the public, such as pocket parks or parking lots." He added, "We also plan to amend the law to allow elementary and secondary schools occupying national land to expand or renovate facilities to address school safety issues."