Yeonggwang-gun Expands Eligibility for Jeonse Loan Interest Support for Newlywed Couples and Multi-Child Families

[Yeonggwang=Asia Economy Honam Reporting Headquarters Reporter Lee Seongseong] Yeonggwang-gun, Jeollanam-do (Governor Kim Junsung) announced on the 19th that it will relax the eligibility criteria for the ‘Jeonse Loan Interest Support Project for Newlyweds and Multi-Child Families,’ which has been promoted since last year, to expand the support target.

To support more newlyweds and multi-child families, the eligibility criteria for multi-child families, which previously required three or more minor children, will be expanded to two or more, and the existing loan amount limit of 30 million KRW or more will be removed, providing a fixed monthly amount even for loans under 30 million KRW.

The support target is newlyweds and multi-child families who have received a Jeonse loan for the purpose of Jeonse residence, where neither spouse owns a house at the time of application, and all household members (spouses and children) must have their address registered in Jeonse housing within the jurisdiction.

The condition for newlyweds remains the same as before: the marriage registration date must be within 7 years, and both spouses must be under 49 years old.

However, if the combined annual income of the couple exceeds 100 million KRW, or if either spouse moves out of the jurisdiction after being selected as a support recipient, or if they purchase a house, they will be excluded from the target.

The support amount ranges from a fixed monthly amount of 30,000 KRW to a maximum of 150,000 KRW depending on the loan balance at the time of application, with a maximum support period of 3 years. However, if the interest amount is less than 30,000 KRW, the actual payment amount will be reimbursed.

The application period is year-round, and applicants can visit the local town or township office with the required documents to apply.

A county official said, “We will continue to make efforts to reduce the housing cost burden on young people, promote their living stability, and encourage settlement in the region.”