Seoul: Finance Minister Koo Yun-cheol announced the government's plan to supply approximately 90,000 rental housing units for young people in the greater Seoul area by 2027. This initiative is part of a broader strategy to stabilize the housing market and enhance living conditions for youths.

According to Yonhap News Agency, Minister Koo highlighted the government's effort to expand non-apartment housing as a crucial element of the public housing supply program. During a meeting focused on real estate policy, he outlined the plan to provide 90,000 rental units in Seoul and its surrounding areas over the next two years, with 66,000 of these units designated for regulated zones.

Koo emphasized that non-apartment housing options, such as multifamily homes and compact studio units, can be delivered more rapidly, thereby alleviating housing challenges faced by young people more effectively. The government intends to incorporate modular housing and other construction techniques to expedite building times and lessen financial pressures on developers, which could lead to earlier project commencements.

The meeting also included a review of current housing market trends and the implementation of response measures. Officials discussed strategies to address illegal real estate activities, underscoring the government's comprehensive approach to housing market regulation and youth housing support.