The South Korean government will build one-hundred-10-thousand new homes.
This is on top of the 190-thousand homes announced last year in an effort to stabilize the housing market.
Kim Da-mi introduces to us the New Town Development Plan.
With the government revealing the specific public housing sites, all eyes are on the two sites in the cities of Goyang and Bucheon.
"In order to stabilize the housing market through balanced demand and supply, the government has promised to build 300-thousand extra low-priced but quality homes and has now proposed the plan for stage three."
Back in September and December, the government announced the sites for 190-thousand new homes.
And in this third phase, Changneung-dong in Goyang and Daejang-dong in Bucheon will see 58,000 new homes constructed by 2022.
The sites for the first two stages were chosen based on the government's development plan. For the last stage,...being within a 30-minute commute of Seoul was the first qualification... and the sites in Goyang and Bucheon are within one kilometer of Seoul.
The ministry said it will further strengthen public transportation systems by extending existing subway lines and establishing new roads and bus rapid transit routes known as S-BRT.
The government also will create a family and work friendly environment with plans to run public schools and support start-ups.
People can apply for the third-stage homes from 2022.
In addition,...in order to prevent market speculation, the sites and surrounding areas will be designated as Land Trade Authorization Areas.
KIM Da-mi, Arirang News.