Gyeonggi Supports Repair Costs for 219 Old Apartment Complexes This Year
Createdd 2023-02-03 Hit 54
Gyeonggi Province announced on January 19 that it plans to allocate a total of KRW 9.85 billion in public facility repair cost support for 219 old apartment complexes this year.
Since 2019, Gyeonggi Province has been supporting public facility maintenance costs for small-scale (non-mandatory management) apartment complexes of less than 300 households that are experiencing facility maintenance difficulties due to the absence of a management body and lack of obligations to accumulate long-term repair reserves.
This year, the support target has been expanded to include apartment complexes subject to mandatory management as well as those constructed more than 15 years ago. However, the field of support for apartment complexes subject to mandatory management is limited to replacing entire elevators and safety elements. The revision takes into account the fact that elevators are closely related to the safety of Gyeonggi residents and that it is difficult to cover the replacement costs of an entire elevator with only the long-term repair provisions for apartment complexes. For those apartment complexes subject to non-mandatory management, as per existing support projects, all public facility maintenance costs will be supported except those pertaining to private areas such as the inner walls of households.
Up to KRW 120 million will be allocated to 49 apartment complexes subject to mandatory management, while KRW 16 million to 40 million will be provided to 170 apartment complexes subject to non-mandatory management, depending on size.
Previously, Gyeonggi Province provided KRW 18 billion to a total of 1,082 apartment complexes over a four-year span running until 2022, which was 1.7 times more than the originally planned target of 622 apartment complexes. In 2022, KRW 5.6 billion was allocated to 276 apartment complexes for roof waterproofing, exterior wall repairs, and repainting. In a satisfaction survey conducted among residents of the beneficiary complexes, 86% responded that they were “satisfied” with the project, indicating a highly favorable response to the policy.
For more information, such as how to apply, contact the housing department (or architecture department) of the relevant city or county.
Lee Gye-sam, Gyeonggi Province’s Assistant Governor for Urban Housing, said, “This year, we have expanded the support target to not only apartment complexes subject to non-mandatory management, but also apartment complexes subject to mandatory management so as to ensure the safety of Gyeonggi residents… We will continue to work hard to improve poor residential environments and stabilize housing for provincial residents.”