Seoul Mayor Oh Se-hoon reaffirmed that long-term jeonse tenants will not receive extensions beyond the program’s 20-year limit as the first contracts expire next year. Seoul introduced the scheme in 2007 and has supplied 38,296 units to a cumulative 45,715 households. About 9,300 households are scheduled to leave between next year and 2031, with the homes to be resupplied as Mirinae Homes for young adults and newlyweds or as long-term jeonse housing. Oh said the city must make the units available to households on waiting lists, while allowing no exceptions to the residency cap. Seoul will review income and asset rules that can make renewal more difficult as tenants accumulate wealth, as well as transfers to larger units when household size increases. A 2022 SH panel survey found that 72% of 1,708 households leaving long-term jeonse housing between 2016 and 2021 had become homeowners, compared with 60% of departing public-rental tenants overall. The city said 69.9% of long-term jeonse households were saving an average of 625,000 won per month and 83.7% held housing subscription savings accounts. Seoul may consider separate public-housing support for elderly or mobility-limited households unable to enter the private market immediately, but described such arrangements as highly exceptional.