Seoul Mayor Oh Se-hoon Proposes 'Seoul Naejip' Housing Plan: Youth Pay Only 20% of Price

A pledge called 'Seoul Naejip' has been announced, where young, homeless individuals would pay only 20% of the housing price, with the public covering the remaining cost. Seoul mayoral candidate Oh Se-hoon unveiled this pledge on the 17th, which includes plans to supply a total of 8,000 housing units.

To secure funding for this pledge, the plan is to establish a 'Youth Assetization Fund for Development Gains' by utilizing public contributions generated during urban planning decision processes. The goal is to provide opportunities for young people with limited funds to purchase homes.

The announcement of this real estate pledge has drawn attention for offering homeownership opportunities to young, homeless individuals who lack financial means.