The South Korean government plans to provide one million houses for low income households and first-time buyers over the next five years.
 
The Ministry of Land, Infrastructure and Transport on Wednesday announced its 'residential welfare roadmap,' proposing the provision of about 200-thousand homes every year until 2022.
 
This includes a total of 650-thousand public rental homes and 200-thousand private rental homes with government assistance.
 
The ministry aims to develop 40 new public residential areas, especially in greenbelt regions around the capital of Seoul.