Changwon Special City, "Apply for Jeonse Deposit Return Guarantee Fee"

Expansion of Implementation from Youth to All Age Groups

Changwon City in Gyeongnam Province is expanding the ‘Jeonse Deposit Return Guarantee Fee Support Project’ to all age groups to prevent damage caused by the non-return of deposits to low-income jeonse lease tenants.

Changwon Special City Hall, Gyeongnam.
Photo by Lee Seryeong

This project was first implemented in 2019 when Changwon City enacted the ‘Changwon City Jeonse Deposit Return Guarantee Fee Support Ordinance,’ the first of its kind nationwide. With 50% of the funding supported by the Ministry of Land, Infrastructure and Transport, the project aims to prevent damage to low-income groups vulnerable to jeonse fraud by supporting the guarantee fees paid when subscribing to the Jeonse Deposit Return Guarantee provided by the Housing and Urban Guarantee Corporation (HUG), Korea Housing Finance Corporation (HF), and SGI Seoul Guarantee.

This year, the target scope has been expanded from low-income youth to low-income individuals of all ages, and income requirements have been relaxed to significantly increase the number of eligible applicants.

The eligibility criteria are ▲ Changwon citizens who have subscribed to the Jeonse Deposit Return Guarantee after January 1, 2024, with a jeonse deposit of 300 million KRW or less ▲ and meet all conditions of being a non-homeowner tenant with an annual income of 50 million KRW or less for youth, 60 million KRW or less for non-youth, and 75 million KRW or less for newlyweds.

Applications can be submitted online or in person at the Building Permit Division of the district office where the residence is located.

An Je-moon Ahn, Director of the Urban Policy Bureau, stated, “This project was first implemented by Changwon City nationwide and has been expanded to a government policy at the national level. We expect that supporting guarantee fees for tenants will protect low-income groups vulnerable to jeonse fraud. We will continue to promote the Jeonse Deposit Return Guarantee Fee Support and strive to prevent jeonse fraud damage.”

For more details regarding the application, please refer to the announcement board on the Changwon City website or contact the Housing Policy Division.