Gyeonggi Housing and Urban Development Corporation takes top honors in regional cooperation category at 2026 awards ceremony; equity-accumulation model expands into national housing policy; 240 units planned for Gwangyo A17 block
The Gyeonggi Housing and Urban Development Corporation won the top prize in the regional cooperation category at the 2026 Local Public Institution Innovation Awards, held Tuesday at the Local Public Enterprise Evaluation Institute in Seocho-gu, Seoul.
GH President Kim Yong-jin said the award recognized the corporation's sustained efforts to develop new public housing models and systems to help people without homes achieve homeownership.
"Now that the equity-accumulation housing model has established itself as a national housing policy, we will redouble our efforts to lead the way in stabilizing housing for ordinary residents and improving residential welfare," he added.
The awards, organized by the Ministry of Interior and Safety and the Local Public Enterprise Evaluation Institute, are designed to identify and promote outstanding cases in which local public institutions have addressed regional challenges and advanced public service innovation.
GH received the honor for its case titled "Supporting a housing ladder for people without homes through the nation's first equity-accumulation pre-sale housing model." Judges praised the corporation for developing a new public pre-sale model that dramatically lowers the upfront financial burden for young people and newlywed couples without homes, and for laying the legal and institutional groundwork needed for effective supply.
Under the equity-accumulation pre-sale housing system, buyers first acquire a stake equivalent to 10 to 25 percent of the pre-sale price and move in, then gradually purchase the remaining equity over 20 to 30 years.
To bring the model to life, GH led sweeping reforms across finance, taxation and the apartment subscription regime. The corporation secured a legal interpretation from the Financial Services Commission that laid the groundwork for developing dedicated loan products, and won relief from corporate and property-holding tax burdens. It also contributed to tailoring supply criteria to actual demand, including adding youth households and newborn-family households as eligible categories for special supply.
The government's "rapid housing supply plan," announced in August, designated a set share — about 15 percent — of public pre-sale units to be offered under equity-accumulation or profit-sharing arrangements. That decision elevated GH's pioneering model from a single project into a core national housing policy set to roll out across the country.
The nation's first equity-accumulation pre-sale housing development is slated for the Gwangyo A17 block in Suwon. Of the 600 total units, 240 will be offered under the equity-accumulation scheme. The design process actively incorporated ideas from "GH Home Editors," a panel of Gyeonggi Province residents, to raise residential satisfaction.
fob140@heraldcorp.com
