KOREA : KOREA HOUSING INVESTMENT GUARANTY FY 1975

PROJECT COMPONENTS INCLUDE: 1) IMPLEMENTATION OF A HOUSING IMPROVEMENT PROGRAM OPERATED BY SEOUL CITY; 2) AN URBAN HOUSING PROGRAM OPERATED BY THE KHC; AND 3) FURTHER DEVELOPMENT OF THE NHP. DURING A PREVIOUS HG PROGRAM, A NHP WAS DEVELOPED TO OBTAIN FUTURE HG FUNDING. ITS BASIC OBJECTIVES ARE TO REDIRECT HOUSING EFFORTS TO REACH LOWER INCOME GROUPS THROUGH PUBLIC INVESTMENT AND TO PRESERVE EXISTING HOUSING STOCK WHERE POSSIBLE. TECHNICAL ASSISTANCE WILL BE PROVIDED IN THE FINAL DEVELOPMENT, REVIEW AND MODIFICATION OF THE NHP. IN ADDITION, 4 KOREAN OFFICIALS WILL RECEIVE OVERSEAS TRAINING IN HOUSING POLICY ADMINISTRATION AND FINANCE OPERATIONS TO BETTER MANAGE THE NHP. UNDER THE HOUSING IMPROVEMENT PROGRAM, LAND WILL BE SOLD TO SQUATTERS, EXISTING HOUSING STOCK WILL BE IMPROVED OR REPLACED, AND INFRASTRUCTURE AND COMMUNITY FACILITIES WILL BE IMPROVED. MASTER REDEVELOPMENT PLANS WILL BE PREPARED BEFORE WORK IS INITIATED, AND CONSTRAINTS WILL BE IMPOSED TO DETERMINE LAND CLEARANCE AND REHOUSING DECISIONS. LOANS WILL BE AVAILABLE TO ELIGIBLE AREA RESIDENTS TO PURCHASE OR IMPROVE LAND AND HOUSES. ON-THE-JOB TRAINING WILL BE PROVIDED FOR TECHNICAL MANAGERS AND PLANNERS, AND EXTENSIVE TECHNICAL ASSISTANCE WILL BE PROVIDED IN OVERALL PROGRAM IMPLEMENTATION. UNDER THE URBAN HOUSING PROGRAM, 6,565 APARTMENT UNITS WILL BE CONSTRUCTED IN SEOUL, PUSAN, AND OTHER CITIES, EXCLUSIVELY FOR FAMILIES BELOW THE MEDIAN INCOME, THE KHC WILL BE ENCOURAGED TO CONTINUE TO PRODUCE LOWER INCOME HOUSING, AND LOWER INCOME GROUPS WILL BE ENCOURAGED TO SETTLE IN APARTMENT UNITS INSTEAD OF OVERCROWDING SINGLE UNIT DWELLINGS. TECHNICAL ASSISTANCE WILL BE LIMITED TO REVIEW AND APPROVAL CAPACITIES, AS THE KHC HAS A HIGHLY DEVELOPED PLANNING, DESIGNING, AND CONSTRUCITON CAPACITY. BENEFICIARIES WILL INCLUDE OCCUPANTS OF BETWEEN 5,000 AND 7,000 UPGRADED UNITS AND 6,565 APARTMENTS.