Seoul mayor pledges more public housing for newlyweds, youth

By Lee Suh-yoon

Park Won-soon, the mayor of Seoul, has pledged to focus on expanding public housing during his remaining three years in office.

The preliminary plan is to provide 25,000 new public housing units each year, mainly for newlywed couples and young graduates who lack affordable rent options in the city, let alone the capital to break into the housing market priced way above the average income. Many people are forced out to the surrounding areas in Gyeonggi Province or Incheon and must spend hours commuting to Seoul each day.

Park, a three-time mayor of the South Korean capital who is likely to join the next presidential race, says he will focus on policies that directly improve citizens’ lives such as housing and childcare services amid the country’s prolonged economic slump.

“With the Korean economy faltering, Seoul City will do its best to address problems regarding people’s economic livelihoods, the most important part of this effort being public housing,” Park told reporters on Thursday during a press banquet at his official residence in Gahoe-dong, central Seoul.

“I’m planning to spend more [on public housing],” Park said. “Except in cases where one’s capital or earnings reach a level where providing public housing is socially unacceptable, the city will try to provide. The idea is to give public housing to at least half of 50,000 newlywed couples each year.”