Kim Itak, First Vice Minister of Land, Infrastructure and Transport: "We will expand 'Happy Dormitories' to ease university students' housing costs"

Attends opening ceremony of “Ludia House” at Gyeongin Women’s University on October 21
Also to provide shared youth housing purchased and re-rented by LH

Kim Itak, First Vice Minister of Land, Infrastructure and Transport, said on October 21 that the government would continue to expand “Happy Dormitories” to ease housing costs for university students. He also stressed that it would actively provide “shared youth housing,” in which the Korea Land and Housing Corporation (LH) buys homes and rents them out at affordable rates.

Kim Itak, First Vice Minister of Land, Infrastructure and Transport, tours the facilities with officials after attending the opening ceremony of Ludia House, a happy dormitory at Kyung-in Women's University in Gyeyang-gu, Incheon, on the 21st. Ministry of Land, Infrastructure and Transport

Kim made the announcement at the opening ceremony of the “Ludia House” Happy Dormitory at Gyeongin Women’s University in Gyeyang-gu, Incheon, that day.

“I am very pleased that university students can worry less about housing costs and focus fully on their studies and personal development,” he said.

Happy Dormitories are a program that provides affordable accommodation to university students who have difficulty commuting.

The Ministry of Land, Infrastructure and Transport supports dormitory construction by lending funds from the Housing and Urban Fund to the Korea Advancing Schools Foundation at an annual interest rate of 1.5%.

Since 2012, the program has provided a total of KRW 1.0614 trillion in support for 80 projects, supplying accommodation to more than 50,000 university students.

Kim also referred to the “Housing Stability Plan” announced by the government last month and reiterated its commitment to providing housing welfare tailored to each stage of life.

“To ease the housing burden on university students, we plan to continue expanding Happy Dormitories while actively promoting the provision of shared youth housing, in which LH purchases existing homes and rents them out again at affordable rates,” Kim said.

Kim Itak, First Vice Minister of the Ministry of Land, Infrastructure and Transport, poses for a commemorative photo with attendees at the opening ceremony of the "Ludia House" dormitory at Kyungin Women's University in Gyeyang-gu, Incheon, on the 21st. Ministry of Land, Infrastructure and Transport

After the official opening ceremony, Kim personally inspected the dormitory’s facilities and checked on its occupancy status.

Meeting with students living in the dormitory, Kim encouraged them, saying, “I hope you will connect with your friends in this comfortable space and work hard to prepare for the future.”

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