On the 10th, the Korea Land & Housing Corporation (LH) held a ceremony to commemorate the occupancy of the youth rental housing "New Light Youth Zone II" located in Seryu-dong, Gwonseon-gu, Suwon.
"New Light Youth Zone" is a supply project for rental housing for youth near subway stations being promoted in accordance with the "Customized Housing Support Agreement for Suwon City" signed by LH and Suwon Special City in 2022.
During the occupancy ceremony, there were presentations from the resident youth and tenant companies, along with a plaque unveiling ceremony. Notable attendees included LH President Lee Han-jun, Suwon Special Mayor Lee Jae-jun, and Member of Parliament Yeom Tae-young.
"New Light Youth Zone II" consists of 2 basement levels and 13 above-ground floors, providing 163 dwellings and 8 commercial spaces. The commercial spaces will be offered free of charge to youth businesses selected by Suwon City.
LH offers fully equipped dwellings with air conditioning, refrigerators, and washing machines at lower prices than the market rate for vulnerable youth residing in Suwon. The competition rate for New Light Youth Zone II recorded approximately 3.2 to 1.
In August, LH plans to provide 200 dwellings for New Light Youth Zone III in Ingyedong, Paldal-gu, Suwon.
President Lee stated, "In a time when many youth feel frustration and helplessness due to the burden of housing costs and the aftermath of rental fraud, LH will continuously expand the supply of public housing specialized for youth, allowing them to live stably and challenge freely."