South Korea raises public housing budget to KRW 30 trillion ($21.8 billion), targeting 218,000 units
- brg_news_room
- 17 hours ago
- 1 min read
South Korea is set to significantly increase public housing investment in 2027, with the Ministry of Land, Infrastructure and Transport (MOLIT) proposing a KRW 30 trillion ($21.8 billion) budget for public housing supply, aimed at addressing growing concerns over housing shortages, particularly in the greater Seoul area. The allocation represents a 41.5% increase from this year’s main budget.
Under the proposal, the government plans to supply 218,000 public housing units in 2027, up by 24,000 units, or 12.4%, from the 194,000 units targeted in 2026. The planned supply comprises 172,000 public rental units, 34,000 public-sale units, and 12,000 privately operated rental units supported by government programmes.
The increased allocation reflects the government’s efforts to expand affordable housing availability and accelerate housing construction amid supply concerns in the Seoul metropolitan area. MOLIT also plans to bring forward construction starts at private housing development sites to support overall supply growth.
Source: Chosun Biz
