First 30 units supplied in partnership with Seoul National University
LH secures housing directly, covers bulk of deposit
Korea Land and Housing Corporation (LH) is stepping up its supply of dormitory-style jeonse rental housing to ease the residential burden on university students and other young people. The initiative aims to sharply reduce the deposit and rent costs young tenants face by having the public sector secure quality housing directly and offer it at below-market rates.
LH announced Tuesday it would open applications to local governments and universities nationwide for 500 units of dormitory-style jeonse rental housing.
Under the program, LH secures newly built homes in locations popular with young people — near university campuses or transit-oriented areas — through jeonse contracts, then supplies them as dormitories through operating partners such as local governments or universities.
Unlike conventional jeonse rental schemes, LH identifies and secures the housing itself, so prospective residents do not need to search on their own. Students who move in need to pay only 1 million won ($736) out of pocket, with the public sector covering the bulk of the jeonse deposit, substantially cutting their housing costs.
Applications are open to local governments and universities operating under the Higher Education Act, either individually or as a consortium of two or more institutions. The application window runs from Oct. 19 to Nov. 5. LH plans to evaluate proposals based on commitment, feasibility, and housing procurement and management plans, with final recipients to be selected in December and MOUs signed at that time.
Earlier, LH signed an MOU with Seoul National University on Sept. 4 to supply a total of 200 dormitory-style jeonse rental units by 2030. The agreement is intended to provide alternative housing for enrolled students while the university pursues reconstruction of its aging dormitories.
Of those units, 30 — newly built homes in a transit-oriented area of Gwanak-gu — were supplied as a priority this semester, and 60 young residents have been living there since Thursday. The units come equipped with built-in appliances including a refrigerator, induction cooktop and air conditioner, along with beds, desks and wardrobes installed by Seoul National University. LH and the university also reached a cooperative agreement with the building's landlord to convert a large portion of the monthly rent into a jeonse deposit, minimizing students' monthly rental payments.
"The dormitory-style jeonse rental program is a highly effective initiative that turns local housing into public dormitories through cooperation with universities and local governments," an LH official said. "We will continue to expand residential welfare support so young people can prepare for their futures without housing insecurity."
Meanwhile, LH is also running its 2026 Living Forest Healing Program, which supports the emotional well-being and health of residents aged 65 and older living in its rental housing.
hwshin@heraldcorp.com
