1887

Housing Dynamics in Korea

Building Inclusive and Smart Cities

image of Housing Dynamics in Korea

Housing in Korea has been part of the government policy development agenda for the past three decades contributing to reducing the historical housing shortage and improving the quality of dwellings. Despite its achievements, Korea now faces a housing affordability challenge as prices are too high for several social groups (i.e. newly wedded), owner occupancy levels are decreasing, and social housing is struggling to meet demand. Korea has a complex social housing system largely focused on low-income households, who still suffer from housing poverty in terms of housing stability, affordability and quality.

 

A holistic view on housing policy to promote a more inclusive society and sustainable economic growth is needed. To overcome the current housing challenge requires expanding the network of public housing providers by including the private and community sectors that could alleviate the government’s financial burden. Korea is linking housing and urban regeneration strategies to respond to the complex challenges of social inclusion, job creation, housing and economic revitalisation. Korea has been at the forefront of smart city development for more than a decade, which has brought benefits to Korean cities such as integrated transport systems, and it is now committed to applying the concept as a vehicle for inclusive growth.

English

.

Foreword

This report analyses Korea’s response to the housing affordability crisis. It notes that Korea has a complex social housing system that, although largely focused on low-income households, such households still suffer from housing poverty in terms of housing stability, affordability and quality. The report argues that the national government alone will not be able to overcome the current housing challenge, which requires expanding the network of public housing providers by including the private and community sectors. The report also analyses the relationship between housing and urban regeneration strategies where Korea has moved to a more integrated approach to respond to the more complex challenges of social inclusion, job creation, housing and economic revitalisation. Finally, the report analyses Korea’s smart cities strategy. Korea is a global leader in smart city development which has brought benefits to Korean cities (e.g. integrated transport systems) and the national economy.

English

This is a required field
Please enter a valid email address
Approval was a Success
Invalid data
An Error Occurred
Approval was partially successful, following selected items could not be processed due to error