South Korea Unveils Plan to Acquire 5,000 Unsold Regional Homes

Government to Purchase Unsold Apartments for Worker Housing and Construction Boost

The South Korean Ministry of Land, Infrastructure and Transport (MOLIT) announced on April 10, 2026, a significant initiative to purchase 5,000 unsold apartments in regional areas. This ambitious plan aims to address two critical issues simultaneously: providing stable housing for local workers and revitalizing the nation’s construction economy, which has faced challenges due to a sluggish property market.

Under the new program, MOLIT will acquire newly built apartments that remain unoccupied after completion in various regional provinces. The scope of the acquisition will also extend to units expected to be completed within the next three months. To encourage participation from developers, the ministry is lowering entry barriers by allowing for partial purchases of housing complexes, providing more flexibility than previous government acquisition schemes.

This initiative is designed to expand a new model of housing support that directly links the acquisition of regional unsold properties with local job creation. By converting these vacant units into affordable housing options for workers, the government seeks to ensure housing stability for those contributing to regional economies while also injecting much-needed capital into the construction sector. This, in turn, is expected to help developers manage their inventory and continue with new projects, preventing a broader slowdown in the industry.

For international readers, the issue of unsold apartments in South Korea can signify an oversupply in certain regions or a downturn in buyer confidence, which can put significant financial strain on construction companies and impact the broader economy. MOLIT, a key government body responsible for national land planning, housing, and infrastructure, often intervenes with such measures to stabilize the market and ensure social welfare.

Further details regarding the application process for developers and the eligibility criteria for local workers benefiting from this housing support are expected to be announced by MOLIT’s Housing Welfare Support Division. Interested parties are advised to monitor the ministry’s official channels for updates on how to participate or apply for the program.

Source: 국토교통부 — Original Article (Korean)