Daejeon City Offers Up to 2.4 Million KRW Annual 'Monthly Rent Support' for Youth

Second Support Project This Year Following Last Year
20,000 KRW per Month for One Year if Requirements Met
First Beneficiaries Also Eligible for Second Project Participation

Daejeon City is promoting the ‘Youth Monthly Rent Temporary Special Support (2nd Phase) Project’ to reduce the monthly rent burden for local youth.

According to Daejeon City on the 22nd, the special support will be implemented by investing a total project cost of 9.988 billion KRW (50% national funding), providing eligible recipients with 200,000 KRW per month, up to a maximum of 2.4 million KRW annually for monthly rent support.

Provided by Daejeon City

The project (application) will be conducted for one year from the 26th of this month to February 25th of next year. Eligible recipients include young people aged 19 to 34 who live separately from their parents, do not own a home, and reside in housing with a lease deposit of 50 million KRW or less and monthly rent of 700,000 KRW or less (the sum of the converted deposit and monthly rent is 900,000 KRW or less), and who are subscribed to a housing subscription savings account.

Income and property requirements must meet the criteria of a youth independent household with median income at or below 60%, and the original household median income at or below 100%. Total property value must be 122 million KRW or less for the youth independent household and 470 million KRW or less for the original household. The original household refers to cases where the parents or the parents’ generation and siblings live together in the same residence.

However, if the youth is 30 years or older, married (or divorced), or under 30 years old but with personal income at or above 50% of the median income, only the income and property of the youth independent household are considered.

Applications can be submitted online by the youth themselves through the Bokjiro website or by visiting the administrative welfare center with jurisdiction over their address. If the youth is unable to apply personally due to unavoidable circumstances, a proxy may apply on their behalf by bringing the required documents.

Previously, during the COVID-19 period from 2022 to 2023, Daejeon City spent a total budget of 8.7 billion KRW to temporarily provide special monthly rent support (1st Phase) to 5,679 local youths to stabilize youth housing.

Youths who received monthly rent support in the first phase can also apply for the second phase after the support period ends (after 12 months).

Lee Jang-woo, Mayor of Daejeon City, said, “I hope the rent support will be like rain in a drought for local youth,” and added, “Daejeon City will continue to do its best to help youth establish a stable foundation for independence and settle in the region.”