Jinju City Supports Housing Stability for Low-Income and Multichild Families

Support for Rental Deposit and Loan Interest

[Asia Economy Yeongnam Reporting Headquarters Reporter Choi Soon-kyung] Jinju City, Gyeongnam Province, will actively promote housing stability support projects for low-income and multi-child households without housing from this year.

The projects by category include ▲Low-income rental deposit support project ▲Multi-child household housing cost support project ▲Multi-child family housing jeonse loan interest support project ▲Moving expense support project for residents of irregular dwellings.

The ‘Low-income Rental Deposit Support Project’ is a program that provides up to 20 million KRW interest-free rental deposit support to households selected as tenants of long-term rental housing supplied by Korea Land and Housing Corporation and Gyeongnam Development Corporation, who have signed new contracts.

Jinju City Hall, Gyeongnam.

The ‘Multi-child Household Housing Cost Support Project’ is a program that provides interest-free support for rental deposits and monthly rent to eligible tenants of LH purchased rental housing, with the support amount determined according to the housing occupied.

The ‘Multi-child Family Housing Jeonse Loan Interest Support Project’ is a project implemented as one of the promises of the 8th local government administration to reduce the housing cost burden for multi-child households without housing.

It supports 1.5% of the loan balance, up to 1 million KRW, for households with two or more children under 18 years old, with a standard median income of 180% or less, and who have received a housing jeonse loan from a financial institution.

Also, the ‘Moving Expense Support Project for Residents of Irregular Dwellings,’ which supports relocation for residents living in irregular dwellings such as single rooms or semi-basements, will be implemented from March. This project provides 400,000 KRW moving expenses to households selected as housing vulnerable support project recipients who move to public rental housing.

A city official said, “We will continue to expand housing stability support projects to alleviate the housing cost burden for low-income and multi-child households without housing amid the economic downturn.”