Korea Land & Housing Corporation said on the 6th that it had received applications covering 2,125 units under its 2026 non-housing remodeling program, exceeding its target of 2,000 units.
The program converts vacant downtown shops, offices, lodging facilities and knowledge-industry centers into housing or quasi-housing, which is then supplied as public rental housing for young adults and newlyweds.
LH took two steps in this round to draw more participation from developers. It first extended the application deadline once, from Sept. 9 to Sept. 30, saying the longer window reflected suggestions gathered at a July 30 briefing for prospective participants.
It also introduced a simplified application route to ease the paperwork burden. Applicants submit a letter of intent briefly describing the building in question, after which LH reviews their eligibility and grants time to prepare the full application documents. LH said the change lowered the barrier to entry by easing the burden of assembling multiple documents in a short period.
LH plans to conduct document screening in October and purchase deliberations in November, with contracts to be signed from the end of the year.
"By actively improving the system to ease the burden on private-sector participants and to secure a large number of quality properties in city centers for young adults and newlyweds, we were able to secure applications above our target," LH President Lee Sung-hoon said. "We will continue to push forward with follow-up procedures so that diversifying housing supply methods, including remodeling, can help ease the shortage of jeonse (lump-sum deposit lease) and monthly-rent housing in city centers."
