South Korea will use vacant knowledge industry centers in the greater Seoul area to create public rental housing for young adults and newlyweds, with Korea Land & Housing Corporation purchasing and remodeling properties through its non-residential building conversion program. The move responds to average vacancy rates of 43.5% at centers completed nationwide from 2023 to 2025 and 42.7% in the capital region. Of 1,553 approved centers nationwide, 1,199, or 77.2%, are in Seoul, Gyeonggi Province and Incheon, while auctions reached 3,876 cases last year. Private conversions will also be eased through temporary officetel permissions, parking-rule exemptions, financing of up to 70 million won per unit and guarantees covering up to 60% of remodeled housing’s expected appraised value. For buildings unsuitable for housing, support-facility limits and tenant-eligibility rules will be relaxed, while new projects face stricter vacancy, market-impact and infrastructure reviews.