South Korea plans to supply 20,000 ultra-low-cost public rental homes for young adults outside the capital region, charging 1,000 won ($0.70) a day, or about 30,000 won a month. The government has earmarked 1.4 trillion won ($980 million) in next year’s budget, with 10,000 homes planned initially and another 10,000 the following year. The Korea Land & Housing Corporation will purchase suitable homes in provincial areas and lease them at the discounted rate, with the program intended to reduce housing costs and encourage young people to settle outside the capital region. The plan builds on local initiatives in cities including Incheon, Hwasun, Taebaek and Pohang, where demand has been strong. Separately, the government plans 20,000 general-purpose public rental units in youth-preferred locations such as areas near subway stations, including 5,000 next year. Public rental housing for young adults will reach 106,000 units next year, while total public housing supply will rise to 218,000 units. Financial assistance will also expand through broader monthly rent eligibility, combined deposit-and-rent lending, wider jeonse deposit-return guarantee coverage and a first-home mortgage offering interest reductions of up to 2.1 percentage points for qualifying non-apartment purchases priced at 400 million won or less.