Gwangjin-gu Supports 300,000 KRW Guarantee Fee for Youth Jeonse Deposit Return Guarantee

Gwangjin-gu, Seoul (District Mayor Kim Kyung-ho) announced on the 8th that it is implementing the ‘Youth Jeonse Deposit Return Guarantee Fee Support Project.’

This project supports the guarantee fees for the Jeonse deposit return guarantee provided by guarantee institutions such as the Housing and Urban Guarantee Corporation (HUG), Korea Housing Finance Corporation (HF), and SGI Seoul Guarantee Insurance to help young people with low income, such as those starting their careers, prevent Jeonse fraud and achieve housing stability.

The eligible applicants are young tenants without housing residing in Gwangjin-gu who have signed up for the Jeonse deposit return guarantee after January 1 of this year, and must meet the criteria of being between 19 and 39 years old as of the application date, having a Jeonse deposit of 300 million KRW or less, and an annual income of 50 million KRW or less (70 million KRW or less combined for newlywed couples).

However, foreigners, overseas Koreans, and homeowners are excluded from support, and tenants living in rental housing owned by registered rental business operators are also not eligible. The district will provide support up to 300,000 KRW until the budget is exhausted after screening. Those wishing to apply can submit the required documents through the ‘Youth Mongddang Information’ website or visit the Job and Youth Division of Gwangjin-gu Office.

Mayor Kim Kyung-ho said, “We hope many young people will apply for this guarantee fee support project to prevent Jeonse fraud,” and added, “We will continue to do our best to ease the economic burden on young people and ensure housing stability through various policies.”