At a recent presentation, representatives from the Jeju Free International City Development Center outlined the organization’s plans to build hundreds of new housing units in the Jeju Science Park. They will be built specifically for young people and families who don’t already own a house. Kim Minhoe reports.



Report

The Jeju Free International City Development Center announced a plan last year to build public housing units for young people and families who don’t own a house.

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JDC to build 793 public rental housing units

793 units will be built, down 12 from the original plan of 805.

The JDC unveiled the plan last week, where it detailed home sizes and monthly rent costs.

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Development includes 402 ‘Happy Housing’ units

Among the 793 units, 402 are named “Happy Housing” units which range from 21 to 39 square meters in size.

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For young people, rent will be 20% below market prices

These units are being specifically targeted at younger people who are new to the workforce, newlyweds, university students, and employees of companies within the Jeju Science Park.

There are several unit types available, all designed to meet the different needs of different families.

Rent prices will be roughly 20 percent lower than current market averages.

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391 10-year rentals

A second project features 10-year rental units for families who don’t already own a house. These are larger, at between 59 and 84 square meters in size.

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Tenants may buy unit after contract

The 391-unit rental homes are available for purchase by the renters after a 10-year, or shorter, lease.

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Construction approval in May→begins October→completed April 2019

The JDC is expecting that it will receive construction approval in May and begin construction in October this year, with plans for tenants to move in beginning April, 2019.

INTERVIEW
Mun Yeong-ho / JDC Representative
The number of people moving to Jeju is equivalent to one village per month. Housing prices have soared for years, and now the JDC is working on this apartment project as part of efforts to curb prices.
<인터뷰 : 문영호 / 제주국제자유도시개발센터 시설관리처장>
“(유입되는 인구로 한 달에) 마을 하나씩 생겨나고 있는 셈인데요. 이로인해 주택가격이 급등하고 있습니다. JDC는 공공기관으로서 주택가격을 안정시키고 도민의 주거안정을 위해서 공공임대주택사업을 추진하게 됐습니다."

Residents who participated in the information session are highly interested in the project, and are checking their eligibility to apply for rental units, their location, and construction plans.

INTERVIEW
Gang Ho-cheol / Resident, Oedo-dong, Jeju City
I’m anxious as local land and housing prices keep going up. I and other participants came here to listen to the presentation about the JDC’s public housing plan to overcome this problem.
<인터뷰 : 강호철 / 제주시 외도동>
“주택가격과 부동산 가격이 제주도가 많이 올라가고 있는 추세인데, JDC가 공공주택을 만든다고 하니까 도민들은 어려운 상황을 어떻게 극복해 나갈 수 있는지 정보 확인차 설명회에 참석했습니다.”

Should all go according to plan, the public corporation will soon start building the new rental apartments.

[Reporter] Kim Minhoe
[Camera] Kim Yong-min

The JDC will continue with seeking input from the public as it moves forward with the building designs.

Kim Minhoe, KCTV