[Namwon=Asia Economy Honam Reporting Headquarters Reporter Jeong Young-kwon] Namwon City, Jeonbuk Province announced on the 8th that it will extend the recruitment period for participants in the youth housing cost support project until the 21st.
This project, launched for the first time this year, aims to alleviate the rent burden on young generations struggling with high housing costs and to promote their living stability and settlement. Applications have been accepted through the city’s website since the 10th of last month.
The project supports up to 160,000 KRW per month for rent for a maximum of 60 months. If the monthly rent is less than 160,000 KRW, the support amount will be equal to the rent. Eligibility will be reviewed annually through new project applications, and support can be provided for up to 5 years.
Applicants must be youth aged 19 to 39 who reside in the city and are registered as residents in a monthly rental contract building as of the announcement date (January 10, 2022).
Additionally, the income criterion is set at 180% or less of the median income (3.5 million KRW for a single-person household), and the housing conditions include rental deposits of 100 million KRW or less and monthly rent of 600,000 KRW or less for houses or apartments.
However, those who own a house themselves or within their household, recipients of low-income housing benefits, or those currently participating in similar youth housing policy projects by the government or local governments are excluded from eligibility.
Namwon=Asia Economy Honam Reporting Headquarters Reporter Jeong Young-kwon wjddudrnjs@asiae.co.kr
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