[Seoul, Now] Search Local Government Websites Thoroughly, Your Taxes Are Worth It

Kim Min-jin, Head of the Local Government Team, Social Affairs Department

Living in a world where people say they hit the jackpot with stocks or changed their fate with coins, motivation for jjantheche (intense frugality-focused consumption activities) is not what it used to be. However, investing (or speculating) without skill or capital is a sure path to ruin, so it is even more important to be cautious as the new year begins.

Just as you need to learn how to stand and walk before you can run well, to invest well, you must first get used to saving seed money and build your skills. This is why jjantheche should be the first step for ordinary young people.

If saving is the number one virtue of jjantheche, then wisely taking advantage of the benefits available to you ranks around number two. Today, I will talk about that second point, which should be of particular interest to job seekers or young salaried workers with tight budgets. When converted to money, it can amount to several million won annually.

The First Step of Jjantheche for Job Seekers and Young Salaried Workers

There are surprisingly many programs and support projects run by city and county governments. Local governments don’t just hand out free money, but for those who manage their resources wisely, the doors of opportunity are wide open. Some districts provide monthly rent support of 200,000 won for up to 12 months. Conditions to qualify include a median income of 150% or less (about 3.34 million won), rental deposit of 60 million won or less, monthly rent of 600,000 won or less, and assets under 100 million won (as in Eunpyeong-gu).

While the criteria vary slightly by district, these conditions generally apply to ordinary young single-person households who are not high earners. Although temporary, last year Yeongdeungpo-gu also supported monthly rent of up to 200,000 won for one year for young single-person households without housing. More than 500 thrifty young people in Yeongdeungpo-gu acted quickly to take advantage of this.

Since the issue of jeonse fraud became a social concern, many districts have started supporting the payment of jeonse deposit return guarantee insurance premiums. If selected, recipients receive a cash refund of all or part of the guarantee insurance premium they previously paid. The amount is up to about 300,000 won. This system was established by local governments to encourage young people, who often lack knowledge about real estate contracts, to purchase guarantee insurance following the surge in jeonse fraud cases.

More places are also supporting exam fees. After taking language tests, Korean history proficiency tests, national technical qualification exams, national professional qualification exams, or nationally certified private qualification exams, submitting proof to the district office department can result in up to 100,000 won being deposited into the individual’s bank account. The target group is unemployed youth aged 19 to 39. In Yangcheon-gu, the program was so popular last year that 1,400 people received about 90 million won, prompting the district to expand the supported qualifications to 900 types.

Effort to Suggest, Evaluate, and Praise Is Necessary

Seocho and Dongjak-gu provide free health checkups once a year for young single-person households. This is to help detect and manage chronic diseases early, considering that busy job hunting, studying, or work life can lead to neglect of health management. Some places also offer free services for taking ID photos needed for interviews or hair and makeup styling.

You can easily find these by searching announcements on local government websites or news. There are also many useful educational programs, lectures, and performances. Almost all local governments operate various social media platforms such as blogs, YouTube, and Instagram. Most young people I met during reporting had set alerts in advance to receive notifications and gather necessary information.

What if other districts have these programs but your neighborhood doesn’t? Good programs tend to be copied by others. However, if many people inform, praise, and suggest improvements, services become faster and richer. Nowadays, most districts have hotlines that connect directly to the district mayor. Whether by email or text message, you can communicate what you need.