Suwon opens applications for Saebit Youth Zone housing units

Suwon City will accept applications for new residents at its Saebit Youth Zone No. 4 and for vacant units at Youth Zone No. 1 from Aug. 24 to Aug. 28. A total of 151 units are available — 141 at No. 4 and 10 at No. 1.

Suwon City and the Korea Land and Housing Corporation (LH) developed the Saebit Youth Zone under a residential support MOU. The city recruits eligible young residents by its own criteria to occupy LH-managed youth rental housing built through the transit-oriented non-residential remodeling program and leases the units at below-market rates.

Youth Zone No. 4 is located at 14-6 Hyowon-ro 265beon-gil in Paldal-gu (Ingye-dong) and offers 141 officetel units with an exclusive use area of 26 square meters. The building is about a two-minute walk from Suwon City Hall Station.

Youth Zone No. 1, where vacancies are being filled, is at 28 Gwongwang-ro 123beon-gil in Gwonseon-gu (Gwonseon-dong). The city is seeking applicants who do not own a home for 10 officetel units of the same 26-square-meter exclusive use area, about a five-minute walk from Suwon City Hall Station.

The initial lease term is two years, renewable in two-year increments up to four times. Recipients of livelihood, medical or housing benefits pay a deposit of 1 million won ($707) and rent set at 40 percent of the market price; all other eligible youth pay a deposit of 2 million won and rent at 50 percent of the market price.

Suwon residents aged 19 to 39 who do not own a home and meet the income and asset requirements may apply. Seventy percent of available units will go to applicants who meet the city's "Suwon Youth Priority Move-in Criteria," ranked by score, while the remaining 30 percent will be allocated to general youth applicants, also ranked by score.