Reducing Housing Cost Burden to Create a Better Environment for Having and Raising Children
Yeongju City, Gyeongbuk Province (Mayor Park Nam-seo) will implement the ‘Young Newlywed Monthly Rent Support Project’ starting November 1 to support the creation of a favorable environment for having and raising children by alleviating the housing cost burden for young newlyweds.
The support targets young couples without housing (aged 19 to 39) living in rented homes with a deposit of 50 million KRW or less and monthly rent of 800,000 KRW or less. The combined annual income of the couple must be 60 million KRW or less as of the application date.
Applications can only be made online through the Gyeongbuk Province Housing Welfare System; in-person applications are not accepted. Applicants must prepare relevant documents such as proof of monthly rent payments for the six months prior to the application date.
The support amount varies by income bracket, with a maximum of 300,000 KRW per month. After qualification verification, the payment will be deposited into the applicant’s bank account under their name on the 30th of the month following the application date.
The support is provided once for six months’ worth of rent, and selected recipients must reapply every six months. If the eligibility criteria are met, support can be received for up to two years.
A city official stated, “We will continue to make efforts to reduce the housing cost burden for newlywed couples without homes and create a child-friendly Yeongju.” He added, “We hope this support project will contribute to establishing a stable housing environment for the younger generation.”
For more details, please refer to the project announcement posted on the Gyeongsangbuk-do Housing Welfare System.
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