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Moon vows housing support for newlyweds

All News 19:50 July 05, 2018

SEOUL, July 5 (Yonhap) -- President Moon Jae-in on Thursday vowed to provide policy support for newlyweds so as to help them ease the burden of finding an affordable home.

"The government will roll our sleeves up to boost housing security," he told during a meeting with a gathering of newly married couples and young people invited by the presidential office Cheong Wa Dae. "We will make sure we spare no efforts in providing every help needed. Provincial governments and regional communities will also be with us for the job."

Moon pointed out how having a place to live is becoming a burden too large for many people to bear, especially those who are just starting a family, amid an unabated uptrend in house prices.

"Home is no longer a place for many to rest and spend good nights with their families. ... We see fewer children at home, workers cannot sign off early and young people can't ever imagine starting a family because a home is just too expensive," he said.

The president stressed that the new housing support measures his government is about to introduce for newlyweds, youngsters and single-parent families are designed to relieve such pressure.

Around 880,000 households are subject to housing benefits, up by 280,000 from late last year. Over the next five years, 250,000 state-funded rental houses will be constructed for newlyweds.

Another 100,000 homes will be available for purchase at 20-30 percent lower than market prices. Recently married couples will also be eligible for more tax benefits. Similar support will be provided to youngsters and single-parent households.

"We're putting in three times as much budget for this, compared with the previous government, and I do believe the public will agree to this to resolve the issue," Moon added.

A file photo of President Moon Jae-in taken at an event in Seoul on July 3, 2018. (Yonhap)


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