Suncheon City Provides Monthly Housing Support of 100,000 KRW for Young Employed Individuals

Eligibility Relaxed, Allowing Young Entrepreneurs to Apply

[Asia Economy Honam Reporting Headquarters Reporter Lee Hyung-kwon] Suncheon City (Mayor Heo Seok) announced on the 20th that it will recruit candidates for the ‘Youth Employment Housing Cost Support Project’ to ensure the stable living of working youth from the 25th of this month to the 19th of next month.

The Youth Employment Housing Cost Support Project is a program jointly funded and promoted by Suncheon City and Jeollanam-do to support the housing stability and economic independence of diligent working youth. It provides housing cost support of 100,000 KRW per month for up to 12 months, totaling 1.2 million KRW, to youth with certain income levels living in jeonse or monthly rental housing.

Previously, only youth workers in small and medium-sized enterprises were eligible, but this year, the eligibility criteria have been relaxed to include not only workers but also young entrepreneurs so that more youth can benefit.

Eligibility requirements include ▲ youth workers or entrepreneurs aged 18 to 39 residing in Suncheon City, ▲ residents of jeonse (with loans of 50 million KRW or more) or monthly rental housing (60,000 KRW or less), and ▲ youth with household income at or below 150% of the median income as of the application date. The total number of beneficiaries is 91.

Exclusions apply to homeowners, recipients of housing benefits, applicants for LH rental housing supply projects, and those receiving housing-related financial support from the Korea Housing Finance Corporation. Applicants must prepare the required documents and apply to the Youth Support Team of the Investment and Job Creation Division at Suncheon City Hall.

A Suncheon City official stated, “We expect that supporting housing costs will alleviate the economic burden on youth and help them settle in Suncheon.”

For more details, please check the Suncheon City website or contact the Youth Support Team of the Investment and Job Creation Division at Suncheon City Hall.