Housing in Korea has been part of the government policy development agenda for the
past three decades contributing to reducing the historical housing shortage and improving
the quality of dwellings. Despite its achievements, Korea now faces a housing affordability
challenge as prices are too high for several social groups (i.e. newly wedded), owner
occupancy levels are decreasing, and social housing is struggling to meet demand.
Korea has a complex social housing system largely focused on low-income households,
who still suffer from housing poverty in terms of housing stability, affordability
A holistic view on housing policy to promote a more inclusive society and sustainable
economic growth is needed. To overcome the current housing challenge requires expanding
the network of public housing providers by including the private and community sectors
that could alleviate the government’s financial burden. Korea is linking housing and
urban regeneration strategies to respond to the complex challenges of social inclusion,
job creation, housing and economic revitalisation. Korea has been at the forefront
of smart city development for more than a decade, which has brought benefits to Korean
cities such as integrated transport systems, and it is now committed to applying the
concept as a vehicle for inclusive growth.