Young Adults Aged 35-39 Living in Gyeonggi-do Receive 300,000 Won for Jeonse Deposit Fee

Gyeonggi Provincial Government and Gyeonggi Provincial Assembly

Youths aged 35 to 39 living in Gyeonggi Province will also receive support for jeonse deposit fees.

The Economic and Labor Committee of the Gyeonggi Provincial Council announced on the 12th that it had approved the "Partial Amendment to the Gyeonggi Province Youth Basic Ordinance," which was primarily proposed by Assemblyman Kim Do-hoon (People Power Party, proportional representation).

The amended ordinance expands the youth age range from "19 to 34 years old" to "19 to 39 years old."

Assemblyman Kim explained the reason for proposing the amendment, saying, "Among the 17 metropolitan cities and provinces, Gyeonggi Province has the lowest upper age limit for youth at 34 years old. Considering the increasing life expectancy and the fact that youths are entering society later, it is necessary to raise the youth age limit."

If the amended ordinance passes the plenary session on the 21st and is implemented next month, youths aged 35 to 39 in the province will also be eligible for the government's support benefit of 300,000 KRW for jeonse deposit fees.

Earlier, the government has been providing 300,000 KRW support for jeonse deposit fees to youths who have signed a jeonse deposit return guarantee (HUG, HF, SGI) after January 1 of this year, with rental deposits of 300 million KRW or less and annual income of 50 million KRW or less (70 million KRW or less for newlyweds).