Gwangjin-gu Supports Guarantee Fees for Youth Jeonse Deposit Return Guarantee

Up to 300,000 KRW Support for Young Adults Without Homes Living in Gwangjin-gu

Gwangjin-gu (District Mayor Kim Kyung-ho) announced that it has been implementing the ‘Youth Jeonse Deposit Return Guarantee Fee Support Project’ since July.

This project supports the guarantee fees for the Jeonse deposit return guarantee provided by guarantee institutions such as Korea Housing & 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 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, homeowners, and tenants living in rental housing owned by registered rental business operators are excluded from support.

The district will provide support of up to 300,000 KRW until the budget is exhausted after screening.

Applicants who wish to apply can submit the required documents through the ‘Youth Mongttang Information’ website or visit the Job and Youth Division at 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 alleviate the economic burden on young people and ensure housing stability through various policies.”