In order to ensure the prompt return of rent deposits in social housing, where vacancy rates have increased temporarily due to the spread of COVID-19 and winter vacations, SVS signed a loan agreement with the Korea Social Housing Association (Nov. 20th, 2020) for the ‘Seoul Social Housing Rent Deposit Return Guarantee Pilot Project’.

Social housing is private rental housing provided by social economy enterprises for people with housing challenges, and it is attracting attention as a solution for affordable housing. There is persistent shortages of affordable housing and social housing enables long-term residence at a lower rent compared to market prices.

As of December 2023, SVS have supported the return of rental deposits through a total of seven cumulative loans (KRW 214 million), and we have extended the joint agreement between the Seoul Metropolitan Government, the Korea Social Housing Association, the Credit Guarantee Fund, and the Korea Social Value Solidarity Foundation by two years to guarantee the return of rental deposits until August 2024.