The Moon Jae-in administration plans to provide housing service assistance for more than one-point-six million households made up of newlyweds and young people before the end of its term. 

The Ministry of Land, Infrastructure and Transport and the Ministry of the Interior and Safety on Thursday announced a set of measures to relieve the financial burden of housing costs for the newly married and the younger generation. 

Under the new plans, 880-thousand households comprising newlyweds and 750-thousand young people will enjoy the benefits, up by nearly 300-thousand and 200-thousand, respectively, from the previous plans announced last year. 

The government will also build an extra 30-thousand so-called "Hope Town" housing units that can be rented to newlyweds at lower-than-market prices. 

From next year, the government will also cut acquisition tax by 50 percent for newlyweds buying their first house.