SEOUL, Nov. 7 (Korea Bizwire) – The government announced Sunday a revision to its Rules on Housing Supply, to include fetuses and adoptees as part of its ‘multi-child special housing supply’ program.
The program was designed to promote child birth with Korea’s fertility rate stuck among the lowest in the world, and gives priority in Korea’s rigorous parceling process of new apartments to couples with at least three children (minors).
Although the regulations are not legally binding, the program is practiced at almost all new apartment complexes, with local governments requiring construction companies, prior to the approval of the parceling process, to dedicate a certain percentage of homes to multi-child families.
Before the revision, fetuses were not considered as ‘children’ under the the program’s guidelines. As for adoptees, even if they had been recognized as legal children, the program needed its scope to be clarified, said an official.
In accordance with the revision, a fetus will now count as an official family member, meaning that couples with two children and expecting a third will be able to benefit from the program.
In order to prevent the unethical practice of giving up adoption after taking advantage of the system, those with an adopted child or children must retain their adoption status until they move in to their new homes.
Furthermore, the revision will allow local government heads to increase the percentage of homes subject to the special housing supply program to a maximum of 15 percent, from the current rate ceiling of 10 percent.
“We decided on the revision so that more families can experience the benefits of the program,” said an official from Ministry of Land, Infrastructure and Transport.
The revision is expected to take effect on November 15.
By Kevin Lee (email@example.com)