Rental Houses Expands to 40 Pyong

The government and the Uri Party decided to expand the space of rental houses from the current national housing space (less than 25.7 pyong) to 40 pyong yesterday.

After the conference between the government and the ruling party on the economy held at the National Assembly on the same day, Uri Party’s Policy Committee Chairman Hong Jae-hyung said, “Local self-governments do not prefer rental houses with the size of national houses, and the demand is on the rise for rental houses of between 40-49 pyong as well. The government will soon announce a concrete policy.”

It was reported that the government and the Uri Party’s policy is to grant the same benefits that the tenants of rental houses with an area of 10-29 pyong receive to those who live in rental houses that are between 40-49 pyong.

Concerning the revision bill of the law on private investment, which the government and the Uri Party are pushing in order to legalize the investment of national funds in social overhead capital (SOC), they forecasted that a national fund of some eight trillion won will be invested in SOC next year alone. Accordingly, they decided to boost the economy by investing surplus budget tantamount to the national fund investment in other SOC’s.

Jong-Koo Yoon jkmas@donga.com