Yongin City "Supporting Youth Jeonwolse Deposit Loan Interest"

Up to 1 Million Won for Houses Under 85㎡ and 300 Million Won

Yongin City in Gyeonggi Province announced on the 21st that it will invest 200 million KRW of city funds to implement an interest support program for jeonse and monthly rent deposit loans to stabilize housing for young people without homes.

The support targets citizens aged 18 to 39 (born between 1984 and 2006) who have taken out loans from financial institutions to rent housing with an exclusive area of 85㎡ or less and a deposit of 300 million KRW or less. Interest of 1% on the outstanding deposit loan balance will be supported for up to 1 million KRW for a total of 200 people.

Applicants must be registered residents of the city and meet conditions such as having a standard median income of 180% or less and net assets including movable and immovable property of 360 million KRW or less.

Those who wish to apply can do so on the Yongin City website from the 1st to the 29th of next month. The city will select recipients after eligibility screening based on income and home ownership status.

In addition, the city will also support monthly rent under the government's 'Youth Monthly Rent Temporary Special Support' program. Since 2022, the city has invested 2 billion KRW from national, provincial, and city funds to support 1,120 young people with 200,000 KRW per month for up to 2.4 million KRW in monthly rent.

This year, the city plans to support monthly rent for young people aged 19 to 34. However, to ensure that more young people can benefit, the city intends to prevent overlap between recipients of the 'Jeonse and Monthly Rent Deposit Loan Interest Support Program' and this monthly rent support.

A city official said, "We will continue to prepare various housing support measures so that young people can settle into society stably."