Gongju City Expands Support for Jeonse Deposit Return Guarantee Fees to All Age Groups

Abolishing Age Limits and Easing Income Requirements

Gongju City Hall Exterior View

Amid a recent increase in victims of jeonse fraud, Gongju City in Chungnam Province is expanding the eligibility for support of jeonse deposit return guarantee fees.

On the 23rd, Gongju City announced that it will extend the jeonse deposit return guarantee fee support, which had previously been provided only to low-income young people without housing, to all age groups. Additionally, the age limit has been abolished, and income requirements have been significantly relaxed.

According to the Ministry of Land, Infrastructure and Transport, as of the 22nd, the number of victims of jeonse fraud was estimated to be around 17,000.

The city will support the guarantee fees for tenants without housing residing in the area who have signed up with the jeonse deposit return guarantee institutions: Housing and Urban Guarantee Corporation (HUG), Korea Housing Finance Corporation (HF), and Seoul Guarantee Insurance (SGI), for tenant deposits of 300 million KRW or less.

Furthermore, the annual income criteria are set at 50 million KRW or less for youth, 60 million KRW or less for non-youth, and 75 million KRW or less for newlyweds to be eligible for support.

However, foreigners, overseas Koreans not residing in Korea, tenants living in rental housing owned by registered rental business operators, or tenants who are corporations are excluded.

Applicants can apply online via Government24 or visit the Eup/Myeon/Dong administrative welfare centers or the Housing Management Team of the City Hall’s Permitted Construction Division.

The city will verify the applicant’s eligibility and notify the selected candidates, then pay up to 300,000 KRW of the guarantee fee into their accounts within 15 days.

Mayor Choi Won-cheol said, “Recently, cases of victims not receiving their deposits back due to jeonse fraud have been increasing. Through support for jeonse deposit return guarantee fees, we will ensure that citizens can live without worries about jeonse fraud.”