Korea Housing & Urban Guaranty Corporation (HUG) said on the 28th that it will supply 900 units through its 12th round of tenant recruitment for Deundeun lease homes on the 30th, the largest offering to date. The units are located in urban areas of the Seoul metropolitan region, including Seoul, Incheon and Bucheon in Gyeonggi Province, as well as in Busan.
Applicants can apply online through HUG's Ansim Jeonse Portal from the 30th through Oct. 12. Final selections will be announced Dec. 30 after eligibility screening, including verification of whether applicants own a home.
Under the Deundeun lease program, HUG directly purchases homes for which it has repaid jeonse (a lump-sum deposit lease) deposits on behalf of landlords and supplies them as public rental housing to households that do not own a home. Because HUG serves as the landlord, tenants can live without concern about deposits not being returned. Tenants can also stay for up to eight years with deposits set at 90% or less of nearby market rates.
HUG has issued recruitment notices for a total of 1,800 units this year. The 11th round, held in July, drew an average of 165 applicants per unit, reflecting strong interest from renters who do not own homes. Including offerings scheduled through the end of this year, HUG's total will reach 3,600 units, double the 1,800 units supplied last year.
"We will continue to supply Deundeun lease homes without disruption and provide ongoing support so that young people and low- and middle-income households who do not own homes can live with peace of mind," HUG President Choi In-ho said.
