The emphasis in European contexts has been on the residualization and market orientation of social housing agencies. South Korea has, however, experienced an extension of public housing and greater sector diversification around different forms of provision that serve the needs of various types of household. On the one hand, a permanent public rental housing sector has been developed serving the needs of very low-income or vulnerable households. On the other hand, more diverse types of fixed-term rental have been produced for a broader range of income categories. This paper examines how and why these differentiated approaches to public housing provision and management have emerged. A particular focus is the changing demands on and roles of housing organizations, as well as the relationships between government, market, and civil sector organizations. The analysis identifies a particular hybridity in South Korean public housing in contrast to typologies developed in European contexts.