South Korea's Ministry of Land, Infrastructure and Transport (MOLIT) announced a one-year extension, from September 30, 2026 to September 30, 2027, for converting three older housing subscription account types into a comprehensive housing subscription savings account (주택청약종합저축). The conversion opens access to both national/public-sector housing (국민주택) and private-sector housing (민영주택). It does not retrospectively credit every prior deposit or month of membership toward every newly available type of housing.
As checked on September 25, 2026. This is a guide to a September 23 MOLIT announcement, not a decision about any applicant's eligibility. Your bank's account records, the particular housing project's official recruitment notice (입주자모집공고), and applicable deposit and priority rules govern individual applications. MOLIT described an interest-calculation change as planned for an October 2026 amendment; do not treat the proposal as already effective on September 25.
Decision table: what can your old account already apply for?
On a phone, swipe sideways within the table to see the final column about which prior records count.
| Current account | Housing eligible before conversion | Additional access after conversion | Treatment of earlier membership/deposits |
|---|---|---|---|
| 청약예금 (cheongyak yegum, subscription deposit) | Private-sector housing | National/public-sector housing | Previously accrued membership and payment record count for the originally eligible type. For the newly eligible housing type, membership and payments count from conversion onward. |
| 청약부금 (cheongyak bugeum, subscription installment account) | Private-sector housing of 85 m² or less exclusive area | National/public-sector housing and private-sector types previously outside this account's scope | Earlier records count for the originally eligible type; newly eligible types start accruing from conversion. Check unit size, required deposit and the actual notice. |
| 청약저축 (cheongyak jeochuk, subscription savings) | National/public-sector housing | Private-sector housing | Earlier records count for the originally eligible type; private-sector eligibility newly obtained by conversion starts accruing from conversion onward. |
This table applies the distinction MOLIT makes in its original press release: previous membership duration and payment performance remain recognized for housing the old account could already apply for, while they are counted only after conversion for types that become newly available. It does not say the account automatically meets a project's deposit threshold, first-priority requirement or other applicant conditions. In particular, it is unsafe to turn a long history of private-housing deposits into pre-conversion national-housing payment rounds by implication.
Example: a savings-account holder eyeing private housing
Someone with 청약저축 has a record for national housing. The announcement preserves recognition for that previously eligible housing category. Conversion adds access to private housing, but its relevant membership/payment record begins at conversion for the new category. The time spent in the old account should not be presented as an automatically retroactive private-housing record.
Example: an installment-account holder eyeing a larger private unit
청약부금 originally covered private housing of 85 m² or less. Do not assume all earlier records carry over to a private-housing unit outside that original scope merely because the comprehensive account now covers a broader range. Ask the bank how your account is credited and compare the target project's size, residence-region deposit requirement and recruitment notice.
A separate clock: the proposed interest change
| Issue | What the September 23 source says | What it does not establish |
|---|---|---|
| General comprehensive-account rate | 2.3–3.1% per year depending on membership duration; the 3.1% maximum applies from two years | That every account immediately earns 3.1% regardless of its earlier membership duration |
| Earlier conversion practice | The comprehensive account's own membership duration, rather than time in the old account, was used for rate determination | That old-account duration already counted under the earlier practice |
| Announced improvement | MOLIT plans an October 2026 amendment to the relevant interest and operation notice so old-account membership duration can count | That the amendment had already taken effect by September 25, or that interest earned before conversion would be recalculated retroactively |
Interest-duration recognition is not the same as housing-application payment recognition. The announced immediate maximum rate concerns qualifying prior membership (notably the two-year threshold), subject to the amendment and its implementation. Check the effective notice and your bank's terms for the starting date, eligible balance and actual credited rate. This article does not promise that pre-conversion interest will be repriced.
Four checks before converting
- Identify your current product: 청약예금, 청약부금 or 청약저축. This particular conversion is not a rule for people who already hold the comprehensive account.
- Identify the target housing category: national/public or private. For 청약부금, distinguish private units up to versus above 85 m² exclusive area.
- Mark the credit boundary: could the old account already apply for that category? If yes, MOLIT says earlier membership/payment records continue to be recognized for it. If no, the newly available category only starts accruing from conversion.
- Read the project's recruitment notice and ask the bank: housing type, recognized deposits/rounds, required private-housing deposit by residence, membership duration and applicant conditions are separate checks. Conversion alone does not grant first priority or a winning chance.
Where to apply
According to MOLIT, holders can request conversion at their existing subscription-account bank's branch or through its mobile app and other offered channels. Holders of 청약예금 or 청약부금, specifically, may choose among nine Housing and Urban Fund trustee banks rather than being limited to their original bank: Kyongnam, KB Kookmin, IBK, NH NongHyup, Busan, Shinhan, Woori, Hana and iM Bank. The announcement does not expressly extend that cross-bank choice to 청약저축. Confirm the route for your bank/account type and do not cancel the old account yourself as a substitute for an official conversion request.
Deadline announced: September 30, 2027. Before acting, recheck your bank's conversion process, any subsequent notice amendment and the actual recruitment notice for the housing project.
Korean Naver quick guide
For a short Korean action checklist, see the Life Mokcha Naver article.
The cover is AI-generated and does not depict a real bank or account.
About the Author
The Life Mokcha editor separates the announced account-conversion policy from each applicant’s bank record and housing-project notice. This guide is not an individual eligibility decision.
References
- MOLIT's September 23, 2026 press-release page — direct publisher page and original attachments.
- Original MOLIT press release as a PDF distributed by Korea.kr — explicit September 2027 extension, distinctions between old/newly accessible housing types, the nine banks, and the planned October amendment.
- Korea.kr policy-news article — related government summary; its short description does not replace the PDF's amendment-timing qualifier.
- National Law Information Center, interest and operation notice — the opened page displayed the version effective January 1, 2026, not proof that the proposed October change was already effective.
