South Korea’s government plans to supply 1.188 million public housing units by 2030, a target previously rounded to 1.19 million. Public rental housing will account for 893,000 units, or 75.2% of the total, as authorities seek to stabilize an overheated rental market. The plan comes as the Housing and Urban Fund, a core source of housing-policy financing, has seen its surplus shrink by nearly 70% over five years, while subscription savings account holders have been exiting. The Institute for Democracy, the Democratic Party of Korea’s think tank, has said private housing supply remains insufficient and housing costs continue to rise, particularly in the greater Seoul area. The party and government are pursuing expanded public housing, stronger housing rights, life-stage housing assistance and broader housing-welfare programs. Institute president and sitting lawmaker Kang Deuk-gu said the capital region’s supply shortfall had accumulated over years. Research fellow Park Dong-wook said the Democratic Party aimed to strengthen public-sector supply and invigorate the broader housing market.