Gyeonggi-do Supports Guarantee Fees for Jeonse Deposit Return Guarantee for All Ages... Applications Open from the 4th

Gyeonggi Province will start the “Jeonse Deposit Return Guarantee Fee Support Project” for all age groups from the 4th.

This project supports the full payment of the guarantee fee (up to 300,000 KRW) for youth (aged 19 to 39) and newlyweds (regardless of age) in cooperation with the government and city/county governments, and supports 90% of the guarantee fee payment (up to 300,000 KRW) for those other than youth and newlyweds.

Gyeonggi Province has allocated a total of 3.6 billion KRW for this project, including 1.8 billion KRW in national funds, 540 million KRW in provincial funds, and 1.26 billion KRW in city/county funds.

The support targets are tenants who have subscribed to a valid Jeonse deposit return guarantee (HUG, HF, SGI) as of the application date, with a rental deposit of 300 million KRW or less, annual income of 50 million KRW or less for youth, 60 million KRW or less for others, and 75 million KRW or less for newlyweds, and who do not own a home.

However, foreigners and overseas Koreans not residing in Korea, tenants living in rental housing registered under the “Special Act on Private Rental Housing,” and cases where the tenant is a corporation are excluded from the target.

Gyeonggi Province will consider those who had a valid Jeonse deposit return guarantee as youth or newlyweds from January 1 to March 3 of this year as youth or newlyweds and provide support accordingly.

When applying for guarantee fee support, after confirmation by the city/county official in charge of the applicant’s jurisdiction, the applicant can receive notification of the guarantee fee application result via text message and email within 30 days. If support is approved, the payment will be made to the applicant’s designated account within 15 days after the decision notification.

Applications can be submitted online through the Gyeonggi Minwon24 website (https://gg24.gg.go.kr). For those who wish to apply in person, they can check the in-person application locations (city/county department in charge or administrative welfare center, etc.) posted on the Gyeonggi Minwon24 website and apply accordingly.

Jeonse Deposit Return Guarantee Fee Support Project in Gyeonggi-do

Gyeonggi Province newly developed the online application system on the Gyeonggi Minwon24 website, enabling applicants to self-diagnose their eligibility and check the expected support amount during the application process, thereby preventing application errors in advance and improving convenience.

Meanwhile, in May last year, the province announced the “Jeonse Damage Prevention and Support Measures,” recommending mandatory subscription to Jeonse deposit return guarantee insurance to the government and independently promoting a project to support guarantee fees for all ages.

In August, the Gyeonggi Provincial Council enacted the “Gyeonggi Province Housing Tenant Jeonse Deposit Return Guarantee Fee Support Ordinance,” which includes support for guarantee fees for tenants of all ages.

Following the government’s policy to expand the scope of guarantee fee support, Gyeonggi Province was able to provide guarantee fee support to residents while reducing budget burdens.

Lee Gye-sam, Director of the Gyeonggi Province Urban Housing Office, said, “Guarantee fee support is a necessary policy to prevent Jeonse damages. It is significant that Gyeonggi Province’s proposals and efforts have been reflected in government policy and expanded nationwide, not just in Gyeonggi Province,” adding, “We will continue to strive for institutional improvements and policy development to prevent Jeonse damages.”