Hwaseong-si Supports Interest on Jeonse and Monthly Rent Loans for Youth

2% Interest on Deposit Loans with a 2 Million KRW Annual Limit
Monthly Rent Support of 150,000 KRW for up to 6 Months

Hwaseong City in Gyeonggi Province will begin recruiting eligible candidates for youth jeonse and monthly rent deposit loan interest and monthly rent support starting from the 8th.

The deposit loan interest support for jeonse and monthly rent targets young household heads aged 19 to 39 without home ownership who have their residence registered in Hwaseong City and actually live there. Interest is supported up to a maximum of 2% of the deposit loan, with an annual cap of 2 million KRW. Applicants must meet the criteria of household heads with a standard median income of 180% or less, living in housing with a net area of 60㎡ or less (85㎡ or less if there are household members) under jeonse or monthly rent. Support is available if the applicant has repaid the jeonse or monthly rent deposit loan interest for at least one year between January 1, 2022, and the application date.

Youth monthly rent support is available to young household heads aged 19 to 39 without home ownership who live separately from their parents and have their resident registration in Hwaseong City. Support is provided up to 150,000 KRW per month for a maximum of six months. Applicants must meet conditions including a rental deposit of 100 million KRW or less, monthly rent of 500,000 KRW or less, household heads without home ownership with a standard median income of 120% or less, and proof of monthly rent payments for six months or more.

The application period for deposit loan interest support is from the 8th to the 30th of this month, and for the monthly rent support program, from the 8th to the 26th. Each program supports 100 eligible candidates. Interested individuals can apply online through the integrated application system 'Jobaba Apply'.

However, participation is restricted for youths currently receiving housing benefits, residing in Korea Land and Housing Corporation (LH) Happy Housing, using the Butimok Jeonse Fund Loan, or the newlywed exclusive jeonse fund, or participating in other government or local government housing welfare programs.

Jung Myung-geun, Mayor of Hwaseong City, stated, "We will continue to promote youth housing support projects to improve quality of life through housing stability."