Gochang-gun Supports 'Cheongnyeon Wolse'... Up to 200,000 KRW Monthly for One Year

[Gochang=Asia Economy Honam Reporting Headquarters Reporter Kim Jaegil] Jeonbuk Gochang-gun (Governor Shim Deokseop) announced on the 10th that it will implement the ‘Youth Monthly Rent Temporary Special Support Project,’ which provides up to 200,000 KRW per month in rental support for low-income youth for one year, starting from the 22nd.

This project is a temporary government initiative aimed at alleviating the housing cost burden for low-income youth who are experiencing economic difficulties due to the prolonged COVID-19 pandemic and worsening economic conditions.

The eligible applicants are non-homeowners aged 19 to 34 (born between 1987 and 2003 as of 2022) who live separately from their parents and reside in housing with a lease deposit of 50 million KRW or less and monthly rent of 600,000 KRW or less. They can receive up to 200,000 KRW in monthly rent support for one year.

The income criteria require that the household to which the youth belongs must have a median income of 60% or less (1-person household 기준 1,166,887 KRW), and the original household including parents must have a median income of 100% or less (3-person household 기준 4,194,701 KRW).

The property criteria specify that the youth’s own household must have assets valued at 107 million KRW or less, and the original household including parents must have assets of 380 million KRW or less.

However, following the scope of independent household recognition under the Basic Livelihood Security System, if the applicant is 30 years or older, or is recognized as living separately from parents due to marriage, being an unmarried father, or an unmarried mother, only the income and assets of the youth’s own household will be applied independently.

The application period is open for one year from the 22nd until August of next year, and eligibility can be checked in advance on the Bokjiro website or the My Home Portal.

Required documents include the monthly rent support application form, income and asset declaration form, lease contract (moving-in registration mandatory), proof of monthly rent transfer, family relation certificate, and a copy of the bankbook.

Applications can be submitted online via the Bokjiro website or by visiting the administrative welfare center with jurisdiction over the youth’s registered residence.

Gochang=Asia Economy Honam Reporting Headquarters Reporter Kim Jaegil baekok@asiae.co.kr