Korea Land and Housing Corporation (LH) announced on the 11th that it will begin accepting applications for 2,800 'Jeonse rental type Daesang dwellings' targeting newborn and multi-child households starting from the 12th.

Sure rental type Dundeun Housing subscription application schedule. /Courtesy of Korea Land and Housing Corporation

Daesang dwellings are being implemented for the first time this year according to the 'Housing Supply Expansion Plan for National Housing Stability' announced by the government in August of last year. Daesang dwellings are a new type of jeonse rental housing where LH first rents non-apartment buildings such as villas, multi-family residences, and urban living dwellings before re-renting to tenants.

As of the announcement date, based on April 30th, if households with newborns and multiple children have no housing, they are eligible for support regardless of income or assets.

Tenants only need to bear 20% of the jeonse deposit within the support limit and the monthly rent for the support amount (interest rate of about 1% to 2% per year). They can reside for up to 8 years.

LH plans to select winners after verifying qualifications following the application period, which will be conducted until the 16th. Move-ins are expected to begin from July 21st.