Song Young-gil: "Jeonse Loan Limit for Homeless Increased to 500 Million Won in Special and Metropolitan Cities"

"Expansion of Monthly Rent Support Eligibility to 150% of Median Income"

Song Young-gil, leader of the Democratic Party of Korea, is appealing for support for candidate Lee Jae-myung at the Seogwipo Five-Day Market on the afternoon of the 4th.
[Image source=Yonhap News]

[Asia Economy Reporter Lee Hyun-joo] Song Young-gil, leader of the Democratic Party of Korea, announced on the 6th that he will lower the interest rates on jeonse deposit loans for the homeless and significantly expand support for monthly rent funds.

On the afternoon of the same day, Song held a press conference at the Yeouido party office and announced the "Support Measures for Jeonse and Monthly Rent for Homeless Low-Income People," which includes these details.

Song said, "Considering the skyrocketing prices of jeonse and monthly rent now, support must be expanded. First, we will lower the interest rates on housing jeonse deposit loans and expand the support target to 120% of the median income." He also said, "The loan limit for jeonse deposit loans will be expanded to 500 million KRW in special and metropolitan cities, and 300 million KRW in other regions."

Song added, "We will also increase support for monthly rent funds. The support target will be expanded to 150% of the median income," and promised, "The loan limit will be increased to 850,000 KRW per month in special and metropolitan cities, and 600,000 KRW per month in other regions nationwide, with the support period extended to 24 months."

He pointed out, "Currently, the target for jeonse fund support through the Housing and Urban Fund is those with an annual income of 60 million KRW or less, and the loan limit is only 200 million KRW in the metropolitan area. For monthly rent, the support target is those with an annual income of 50 million KRW or less, and the loan limit is only up to 400,000 KRW per month."

Song also announced the Democratic Party's new energy policy plan. He emphasized, "Realistically, it is true that the scheduled renewable energy roadmap alone cannot handle the soaring energy demand," and said, "We need to put various solutions regarding the energy mix policy on the table and gather social consensus." He continued, "Candidate Lee Jae-myung and the Democratic Party will form a so-called 'Shin Hanul Units 3 and 4 Public Deliberation Committee' after the new government is launched to quickly reach a conclusion," and said, "We will wisely organize the arguments of both the pros and cons based on transparent and fair discussion procedures."

After the press conference, Song explained to reporters, "If fusion power generation is commercialized, the problem of nuclear power plant disposal will disappear," and added, "Before that, a nuclear power mix policy is inevitable as an intermediate bridge."