Moon vows better public rental homes amid soaring housing prices, rental cost Updated: 2020-12-11 15:17:37 KST

The South Korean government will aim to supply a total of 2.4 million public rental homes by 2025 to make sure everyone has stable housing, especially vulnerable groups, as home prices continue to soar.
That’s according to President Moon Jae-in who made an on-site inspection Friday of a public rental housing complex in Gyeonggi-do Province.

The government will achieve innovation in terms of quality. We will build the kinds of homes that everyone would like to live in. We will also expand eligibility to the middle class, and build 63,000 mid-sized apartments by 2025.

Moon noted that some people still face dire living conditions, so he said that the government will also make sure no one is left out by providing homes that are not only inexpensive but clean.
He also vowed to step up housing subsidies and expand eligibility for them until there is sufficient supply.
The top office explained that Friday’s inspection reflects the government’s resolve to improve public rental homes in terms of both quantity and quality.