HUG designates 4 unsold-unit management zones, including Incheon's Jung-gu and Busan's Sasang

Korea Housing & Urban Guarantee Corp. (HUG) announced Thursday that it has designated four areas — including Incheon's Jung-gu and Gyeonggi Province's Icheon — as unsold-unit management zones for July.

A district, county or borough qualifies for designation when it has at least 1,000 unsold units and those units account for 2 percent or more of total apartment housing stock, and when at least one of the following conditions is met: a rise in unsold units, sluggish clearance of unsold units, or concern over a buildup of unsold units. Once designated, any pre-sale project financing guarantee issued in the area requires a preliminary review.

This month, Daejeon's Jung-gu was removed from the list while Gyeonggi Province's Yangju was redesignated. The four zones now on the list are Incheon's Jung-gu, Gyeonggi Province's Icheon, Gyeonggi Province's Yangju and Busan's Sasang.

As of the end of May, the four designated zones together held 7,434 unsold units, accounting for about 11.4 percent of the 65,239 unsold units nationwide.

Meanwhile, housing statistics released by the Ministry of Land, Infrastructure and Transport on June 30 showed that the total number of unsold homes nationwide stood at 65,239 units as of the end of May, up 60 units, or 0.1 percent, from 65,179 units the previous month.