Selection of 60 Homeless Youth Aged 19 to 39
Interest Support of 4.1% for Loans up to 100 Million KRW
Loan Period Basic 2 Years, Extendable up to 6 Years
On the 15th, Sejong City announced that it will select 60 local youths this year to promote the 'Youth Housing Lease Deposit Interest Support Project.'
The support targets are homeless youths aged 19 to 39, who can receive support for loan interest of 4.1% on loans up to a maximum of 100 million KRW.
This year, to provide practical help in securing jeonse housing, the loan limit was raised from the previous 70 million KRW to 100 million KRW. Additionally, the deposit limit for newlyweds was expanded from 200 million KRW to 300 million KRW.
Another notable point is that for new jeonse contracts, the support, which was previously limited to prospective jeonse contract holders, has been expanded this year to include new jeonse contract holders who have not yet processed the final payment.
Applicants must meet requirements such as income and lease deposit limits, and after selection, must execute the jeonse contract and loan within 90 days.
Applications can be submitted online via 'Government24' or by visiting the Youth Policy Division on the 4th floor of Sejong City Hall from the 29th of this month to the 2nd of next month.
The loan period is basically up to 2 years, with extensions possible up to a maximum of 6 years (2 extensions allowed). The loan must be repaid in a lump sum at maturity, and upon extension, at least 10% of the original loan amount must be repaid.
For more detailed information about the project, please refer to the announcement posted on the Sejong City website or contact the Sejong Youth Hope Tomorrow Center or the Youth Policy Division of Sejong City.
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