Suwon City Provides Temporary Monthly Rent Support of 200,000 KRW for Homeless Youth

[Asia Economy (Suwon) = Reporter Lee Young-gyu] Suwon City in Gyeonggi Province will provide temporary monthly rent support to homeless youth.

On the 19th, Suwon City announced that it will carry out the 'Youth Monthly Rent Temporary Special Support Project,' which provides 200,000 KRW per month in rent for up to 12 months (a total of 2.4 million KRW) to reduce the housing cost burden on young people facing economic difficulties due to the prolonged COVID-19 pandemic.

The city will invest a total of 8.123 billion KRW in this project.

The support target is homeless youth aged 19 to 34 who are registered residents of Suwon as of the application date (youth living separately from their parents).

The residence must have a lease deposit of 50 million KRW or less and monthly rent of 600,000 KRW or less.

Support eligibility is determined by considering not only the youth but also the income and assets of the original household (including parents). Youth households must meet conditions of 60% or less of the median income and assets worth 107 million KRW or less, while the original household (including parents) must meet conditions of 100% or less of the median income and assets worth 380 million KRW or less.

Applications can be submitted for one year until August 21 of next year through the 'Bokjiro website' or by visiting the administrative welfare center of the district office corresponding to the resident registration address.

Required documents include ▲monthly rent support application form ▲income and asset declaration ▲lease contract ▲monthly rent transfer documents ▲copy of bankbook ▲family relation certificates of the youth and parents, etc.

After reviewing eligibility such as income and assets, the city will select beneficiaries from October and start providing support payments from November. The support funds will be transferred in cash to the applicant's account on the 25th of each month.

A city official said, "We expect this project to help stabilize the lives of young people facing economic difficulties due to the prolonged COVID-19 pandemic and reduce their housing cost burden."