Actor Park Kyung-hye Applies for SH Long-Term Vacant Rental Housing
Actor Park Kyung-hye has drawn widespread attention to South Korea’s long-term vacant rental housing system after revealing on a YouTube channel appearance that she recently applied for a subsidized public apartment unit, hankyung.com reported.
Applying for Subsidized Public Housing
Appearing on a video hosted by Hyeri, Park discussed her current living situation and stated that she went through the application process for a long-term vacant rental apartment. Hyeri expressed initial surprise, asking if the lease was for a long duration, prompting Park to explain the mechanics of the public offering.
Park explained that the initiative applies to residential units left vacant for six months or more after a previous tenant moves out, which the government then supplies at rates below the standard market value. She noted that increasing the security deposit allows tenants to lower their monthly rent further, and she found that her personal financial circumstances matched the eligibility rules.
Park Seeks SH Rental After Failing Youth Housing Program
The application follows earlier public disclosures by Park regarding her housing constraints. She previously appeared on an entertainment program where she revealed her daily life living alone in a 6-pyung studio apartment in Yeoksam-dong, Gangnam-gu, Seoul, and shared that she had previously failed to secure a spot in a youth housing program.
The housing option Park pursued is operated by the Seoul Housing and Communities Corporation (SH), which targets long-uncontracted public rental units that have sat vacant for over half a year and undergoes remodeling before release. According to SH, these units feature relaxed eligibility requirements compared to standard purchased rental housing, widening access for homeless Seoul residents.
Rental Program Offers Affordable Rates for Homeless Households
The primary benefit of the program is an affordable rental rate set at 50 to 70 percent of the appraised market value, offering long-term housing stability without a conversion option to ownership. The initial contract lasts for two years, with a single renewal permitted, allowing a maximum residency period of up to six years provided the tenant maintains their homeless status.
Applicants must belong to a homeless household, adhering to a strict one-housing-unit-per-household rule. Siblings residing in separate households can apply individually if they meet the criteria. While the system does not operate a separate bonus point system, households with a monthly average income at or below 130 percent of the previous year’s average monthly income for urban worker households receive priority classification as first-tier applicants. Competing applicants within the same tier are selected via a random drawing.
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