Ruling Democratic Party of Korea's Seoul mayoral candidate Chong Won-o speaks during a press conference in front of Seoul City Hall in Jung District, Seoul, Monday, as he unveils housing-related campaign pledges, including expanded support for young renters and newly married couples. Yonhap
The ruling Democratic Party of Korea's (DPK) Seoul mayoral candidate Chong Won-o on Monday unveiled a package of housing measures aimed at easing financial pressure on young people and newly married couples, while accusing rival Oh Se-hoon of mismanaging the city’s housing policy and contributing to the worsening rental market.
Speaking at a campaign event in front of Seoul City Hall, Chong announced three housing stability plans for young adults and newlyweds, centered on expanded rent subsidies, additional housing supply and broader support for youth housing.
Housing affordability and rising rent burdens have emerged as major issues in the Seoul mayoral race, particularly among younger voters struggling with high deposits and monthly rents.
Chong argued that Seoul’s current rental difficulties stem from what he described as policy failures under Oh, the incumbent mayor and People Power Party's mayoral candidate.
“The housing difficulties facing young people in Seoul today are clearly the result of housing administration failures under Oh Se-hoon,” Chong said.
As part of the plan, Chong pledged to expand the city’s monthly rent support program for young adults from the current 20,000 beneficiaries per year to 50,000.
Under the proposal, recipients would receive 200,000 won ($133) per month for one year, with the program reaching a cumulative 200,000 people over a four-year mayoral term.
Chong said immediate relief was needed as rising housing costs continue to weigh on young people’s daily lives.
“Young people are cutting back on time with friends and even reducing study hours because they need extra part-time work to cover rent,” he said.
Source: Korea Times News
