"Nearly Half..." Youth and Child-Headed Households Face Long-Term Rent Arrears

[Economy 365]

It has been revealed that nearly half of youth and child-headed households living in Korea Land and Housing Corporation (LH) jeonse-subsidized rental housing have been in long-term arrears on their monthly rent.

As of August of this year, out of 5,197 households, 2,378 households—accounting for 45.8%—had failed to pay their rent for three months or longer.

The long-term delinquency rate, which stood at 31% in 2022, has continued to rise, with total unpaid rent amounting to 2.398 billion won.

If rent defaults persist, contract cancellation procedures may be initiated or contract renewals may be refused.

*This article was produced with AI audio.
※ Please note: This article was translated by AI and may contain errors.