Incheon City Supports Monthly Rent for Employed and Entrepreneurial Youth... Up to 800,000 KRW per Person

Incheon City Hall

[Asia Economy Reporter Park Hyesook] Incheon City is accepting applications until the 30th for the 'Employment and Start-up Employed Youth Monthly Rent Support Project,' which provides partial support for housing costs to help young people achieve economic independence and job stability.

The support target this year is 500 people. Eligible applicants must be single-person households aged 19 to 39, registered residents of Incheon City, employed or start-up youth workers, with a median income of 150% or less, monthly rent deposit of 50 million KRW or less, and monthly rent of 600,000 KRW or less, and must be homeless.

Additionally, employed applicants must be enrolled in the four major social insurances, and start-up applicants must have a business registration between 3 months and less than 3 years.

So far, 353 people have applied for monthly rent support, and excluding 73 disqualified applicants, 280 people have been selected to receive rent support.

Monthly rent support is provided up to 100,000 KRW per person per month for a maximum of 8 months and is available only once in a lifetime. Payments can be received retroactively from January of this year.

Applications can be submitted online through the Incheon Youth Space Yuyu Base website, and the selection results will be individually notified via website announcement or text message.

An Incheon City official stated, "This year, we have relaxed the eligibility requirements to allow more young people to participate," adding, "We hope this project will help young people reduce their economic burden and settle stably in the region."