{
  "id": 8868675,
  "title": "Gov't plans 1.19 mil. public sale, rental homes amid housing price pressures",
  "url": "https://urgent.news/2026/09/21/govt-plans-1-19-mil-public-sale-rental-homes-amid-housing-price",
  "topic": "business",
  "section": "Business",
  "published": "2026-09-21T07:22:03.000Z",
  "source": {
    "name": "The Korea Times",
    "slug": "the-korea-times-koreatimes",
    "url": "https://www.koreatimes.co.kr/economy/policy/20260921/govt-plans-119-mil-public-sale-rental-homes-amid-housing-price-pressures"
  },
  "original_language": "en",
  "account": "The South Korean government announced on Monday its plan to provide 1.19 million public sale and rental homes by 2030, primarily in the Seoul metropolitan region. This initiative is part of the government's broader strategy to enhance housing support, particularly for low-income families, young individuals, and newlywed couples grappling with the increasing housing prices in the greater Seoul area.\n\nUnder the proposed plan, the government intends to deliver approximately 240,000 homes on an annual basis, culminating in a total of 1.19 million units by 2030. Roughly 77 percent of these new homes will be concentrated in the Seoul metropolitan area, where housing demand remains exceptionally high. The planned housing supply equates to around 13.6 percent of the country's 8.71 million existing rental housing units as of 2024.\n\nThe government plans to supply these homes through a variety of programs, including new construction on public land, the purchase of privately developed properties to transform them into public rental housing, and leveraging existing private-sector housing. The ministry emphasized that these measures aim to expand the availability of affordable housing in the country.",
  "summary": "The government said Monday it aims to supply 1.19 million public sale and rental homes through 2030, mostly in the Seoul metropolitan area, as part of its effort to expand housing support. The Ministry of Land, Infrastructure and Transport unveiled the housing stabilization plan, which focuses on providing tailored housing support for low-income households, young people and newlyweds amid rising…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "Yonhap News",
        "title": "Gov't plans 1.19 mln public sale, rental homes amid housing price pressures",
        "url": "https://urgent.news/2026/09/21/govt-plans-1-19-mln-public-sale-rental-homes-amid-housing-price",
        "published": "2026-09-21T07:00:26.000Z"
      },
      {
        "outlet": "The Korea Times",
        "title": "Gov't plans 1.19 mil. public sale, rental homes amid housing price pressures",
        "url": "https://urgent.news/2026/09/21/govt-plans-1-19-mil-public-sale-rental-homes-amid-housing-price-8873655",
        "published": "2026-09-21T07:52:04.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}