The Construction Ministry has set up a long-term plan to positively help civilians construct their houses and reclaim government-owned land into housing lots with the purpose of completely settling the lack of houses by 1986 and constructing a total o...
The Construction Ministry has set up a long-term plan to positively help civilians construct their houses and reclaim government-owned land into housing lots with the purpose of completely settling the lack of houses by 1986 and constructing a total of 1,130,000 houses during the second five-year economic development plan.In order to fundamentally settle the house shortages, the government plan to enforce the following policies: To extend loans to civilians through the housing bank which will be set up in the near future in order to promote the construction of houses and release loans to land-owners or enterprises to help reclaim housing lots.To reclaim forloan land and sell it to civilians at cheap prices. Especially, the government will turn over the state-own land to the Korea Housing Corporation as soon as a city plan on the area is determined and announced.To rearrange wasted districts in cities into house estates. To extend technical assistance to farmers and provide them with necessary materials to repair substandard houses in the rural area.According to the ministry's 20-year house-construction plan, the government plans to realize the dream of providing one house for one family by investing a total of 962,300 million won in government and private funds.The amount of annual investment, the number of houses to be constructed and the decreases in the shortage of houses are shown in the following figure.