About 80 billion won to be invested across two sites to provide stable housing for elderly residents, youth and new settlers in former coal-mining areas
Taebaek and Yeongwol-gun have been selected in the Ministry of Land, Infrastructure and Transport's first-half 2026 competition for specialized public housing projects.
According to the government and local authorities Wednesday, the region-proposed specialized housing program is a tailored public rental housing initiative that allows local governments to independently set eligibility requirements and selection methods. The program is designed to address shifts in social and demographic conditions, with goals including encouraging childbirth, promoting migration back to rural areas and revitalizing local economies.
Taebaek has pursued the ministry's specialized housing project to support the stable relocation of company housing residents displaced by the closure of the Jangseong mine and to improve housing conditions in the Cheoram area. The city was selected under the elderly welfare housing category.
Design drawings show a modern, clean-lined structure resembling a small, upscale North American-style apartment complex.
The project will invest a total of 51.1 billion won ($33 million) to build 100 integrated public rental housing units on the site of the former railway apartment complex at 284-6 Cheoram-dong. Funding will come from 13 billion won in national government funds, 22.9 billion won from the city and 15.2 billion won from Korea Land and Housing Corp. (LH).
Taebaek and LH will jointly carry out the project. Alongside the residential units, a two-story social welfare facility will also be built on site. The facility is set to include amenities tailored for elderly residents — a senior dining hall, a wellness and health center, a community cafe, a shared laundry room and a multipurpose hall.
The project is expected to provide stable housing for company housing residents who need to relocate following the Jangseong mine closure. It is also expected to improve residential welfare and expand lifestyle services for elderly residents in the Cheoram area, helping sustain the local community and enhance living conditions.
The Yeongwol-gun specialized housing site is located at a replacement relocation site at 801-13 Deokpori, Yeongwol-eup — the former Korea Electric Power Corp. company housing site. The project targets a broad range of integrated public rental housing applicants, including workers, those employed in locally specialized industries, people returning to rural areas, rural exchange students, youth, newlyweds and elderly residents.
Yeongwol-gun plans to operate the eligibility criteria flexibly, reflecting projected local housing demand at the time of supply in 2030.
The total project cost is about 24.7 billion won — 7 billion won from national funds and 17.7 billion won from the county. Groundbreaking is targeted for 2028 following preliminary administrative procedures including an investment review and design services in 2027, with completion and move-in planned for the second half of 2030.
Jeong Eok-gyo, director of regional development at Yeongwol-gun, said the selection "is recognition of the excellence of our locally tailored residential policy," adding that the county would "spare no effort to steadily supply public rental housing that reflects the diverse housing needs of residents, creating a stable living environment and boosting local vitality."
abc@heraldcorp.com
