Implemented since 2019, supporting 400 households
Applications accepted until July 9 this year
[Asia Economy Yeongnam Reporting Headquarters Reporter Choi Soon-kyung] Jinju City in Gyeongnam announced that it will implement a support program for interest on housing lease deposit loans for newlywed couples to alleviate the housing cost burden and create stable living conditions for newlywed households without homes.
In 2019, the city enacted an ordinance and supported 40 million KRW for 400 households over two years, and plans to support 200 million KRW this year as well.
The support targets are newlywed households without homes who have registered their marriage within the last five years, both spouses currently registered as residents at the same address in Jinju City, with a standard median income of 180% or less, and whose financial institution housing lease deposit loan amount is 150 million KRW or less.
However, basic livelihood security recipients and public rental housing residents are excluded from the support as they are existing recipients of housing benefits.
The support amount is 1.5% of the outstanding housing lease deposit loan balance, up to 1 million KRW once a year, and to expand support for multi-child families, an additional 20% per child is added to the support amount, up to a maximum of 1.5 million KRW.
Applications for the program can be submitted by visiting the local eup/myeon office or dong administrative welfare center from the 28th until July 9th.
A city official stated, “We hope this will help reduce the economic burden on newlywed couples and provide stable housing conditions to resolve difficulties related to marriage, childbirth, and child-rearing,” and added, “We will do our best to create a happy Jinju for citizens and children.”
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