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[BUSINESS] · South Korea · 2 sources

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Daegu City invests 3.3 billion won in vacant house renovation

Daegu City is investing 3.3 billion won this year to renovate and manage 128 vacant houses. The initiative aims to move beyond simple demolition toward more diverse uses for these properties. While houses posing safety risks will be demolished, those in good condition will be remodeled into residential spaces, community facilities, or public amenities.

Since 2013, the city has demolished 504 vacant houses, converting the sites into parking lots, small parks, vegetable gardens, and exercise areas. To encourage participation, the city offers subsidies of up to 30 million won per household. Additionally, local ordinances have been amended to reduce the required period for using sites for public purposes from three years to one year, easing the burden on property owners.