Gochang-gun, Jeonbuk announced on the 14th that it will expand the representative home purchase support project, ‘Newlywed Couple Housing Loan Interest Support.’
The county has expanded the ‘Newlywed Couple Housing Loan Interest Support Project’ through ordinance amendments to increase the number of beneficiaries, support periods, and the number of times, allowing more residents to benefit.
The target beneficiaries have been expanded from newlywed couples to include youth, and the newlywed period has been extended from 5 years to 7 years. In particular, if there are children, the number of times support can be applied for has been increased to a maximum of 5 times.
The project supports loan interest not only for existing jeonse loans but also for housing purchases, practically helping residents realize their dream of owning a home in Gochang.
The county has allocated a budget of 200 million KRW this year to provide support within 2% of the loan balance per household (up to a maximum of 2 million KRW).
Eligibility requires newlywed couples and youth within 7 years from the date of marriage registration, and all applicants must have been registered residents of Gochang-gun for at least 6 months as of the application date. The combined annual income of the couple must be 80 million KRW or less, and for youth, 40 million KRW or less.
Applications are accepted from the 15th of this month to the 15th of next month, and applicants must submit relevant documents and undergo eligibility review at the local town or township office of their jurisdiction.
Detailed information can be found in the announcement section on the Gochang-gun website.
County Governor Shim Deok-seop said, “I hope this will help newlywed couples and youth who are struggling with high housing costs,” and added, “We will actively support all available resources so that residents can create a warm and cozy home in Gochang-gun.”
Gochang = Kim Jae-gil, Honam Reporting Headquarters, Asia Economy baekok@asiae.co.kr
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