The Seoul Housing and Communities Corporation (SH Corporation) announced on the 6th that it has reorganized its structure to support the Seoul Metropolitan Government's policies aimed at overcoming low birth rates, including the 'My Home in Advance' program.
According to the organizational restructuring plan, a new department called the My Home in Advance Supply Department has been established under the Housing Welfare Headquarters, dedicated to the supply of the Seoul Metropolitan Government's 'My Home in Advance (Long-term Rent Housing II)' program, which aims to stabilize housing for newlywed couples and combat low birth rates. My Home in Advance prioritizes providing long-term rental housing for newlywed couples and offers benefits of extending the residency period at the time of childbearing or providing sale benefits at 80 to 90% of market price.
Starting with 300 dwellings at Olympic Park Foreon last July, a total of 1,022 dwellings were supplied over the past year, with plans to supply 3,500 dwellings this year and 4,000 dwellings annually starting next year. The corporation plans to secure dwellings available for fast supply to newlywed couples and other demanders from various projects, including the Seocho Seoripul District (scheduled to supply 11,000 dwellings of My Home in Advance), which is an area released from the development restriction zone (greenbelt), as well as from Guryong Village, Seongdui Village, and housing from contributed acceptance generated at redevelopment and reconstruction establishments in Seoul.
To effectively promote the Seoul Metropolitan Government's 'Great Han River Project,' SH Corporation has transferred the Han River Development Project Team, which was previously under the Urban Maintenance Headquarters, directly under the CEO. The goal is to successfully advance Han River development projects, such as the Han River Bus, Ferris wheel, and Han River gondola, thus enhancing Seoul's urban competitiveness.
SH Corporation established Han River Bus Co., Ltd. with a 51% equity stake last year and is promoting the business aiming for the official launch of Han River Bus this year. The Seoul Twin Eye (Ferris wheel) project is underway with a construction start goal set for next year, while the Han River gondola is in the basic planning stage.
Hwang Sang-ha, president of SH Corporation, expressed hope that "the prompt and stable supply of My Home in Advance will encourage many newlywed and prospective couples to decide on marriage and childbirth," adding, "We will do our best to realize 'Attractive Special City Seoul' by swiftly and stably advancing Han River development projects such as the Han River Bus."