GH Wins Top Local Public Institution Innovation Award...First Ever "Equity Accumulation Housing Sales Model" in Korea

On September 29, Gyeonggi Housing and Urban Development Corporation (GH) was awarded the Grand Prize in the regional coexistence and cooperation category at the "2026 Local Public Institution Innovation Awards," held at the Local Public Enterprise Evaluation Institute in Seocho-gu, Seoul.

This award ceremony was organized by the Ministry of the Interior and Safety and the Local Public Enterprise Evaluation Institute to discover and share outstanding practices of local public institutions that have contributed to solving local challenges and innovating public services.

GH received the honor for its case titled "The First in Korea: Supporting Homeownership for the Houseless through an Equity Accumulation Housing Sales Model."

The company was highly praised for developing a new public housing sales model that dramatically reduces the initial financial burden for houseless young adults and newlyweds, and for laying effective legal and institutional foundations for meaningful supply.

The equity accumulation housing sales model allows buyers to first acquire 10-25% equity of the house and move in, then gradually purchase the remaining shares over a period of 20 to 30 years.

Kim Yongjin, President of Gyeonggi Housing and Urban Development Corporation (right), is taking a commemorative photo with Lee Eoyoung, Chairman of the Local Government Officials Evaluation Institute, after receiving the grand prize on the 29th. Provided by Gyeonggi Housing and Urban Development Corporation

To realize this model, GH led comprehensive institutional improvements in finance, taxation, and the application process. The corporation secured official interpretations of relevant statutes from the Financial Services Commission, paving the way for the development of dedicated loan products, and eased the burden related to corporate and ownership taxes. Additionally, GH contributed to establishing practical, demand-oriented supply standards by introducing young adults and households with newborns as new eligible groups for special supply.

Particularly, with the government's announcement in August of the "Rapid Housing Supply Plan," which mandates that approximately 15% of public housing sales will be allocated to equity accumulation and profit-sharing models, GH's pioneering efforts—which were the first in the country—have expanded from a single project to a core national housing policy spreading across Korea.

Meanwhile, Korea's first equity accumulation housing sales project is scheduled for Suwon Gwanggyo A17 block. Of the total 600 units, 240 will utilize the equity accumulation model, and the "GH Home Editor" group, comprised of local residents, provided their input in the spatial design process, contributing to higher residential satisfaction.

Kim Yongjin, President of GH, stated, "This Grand Prize is a valuable recognition of our continuous efforts to pioneer new public housing models and policies to help real home-seekers in securing homes," adding, "Now that the equity accumulation housing model has become a national policy, we will further enhance our project execution capabilities and take the lead in improving housing stability and residential welfare for ordinary citizens."

This content was produced with the assistance of AI translation services.