"Rent 1,000 Won a Day"... Who Qualifies for the 'Cheonwon Housing' in Incheon?

1000 Won per Day (30,000 Won per Month)... Incheon 'Cheonwon Housing'
First Supply Next Year... 1,000 Units Annually for Newlyweds
2-Year Minimum Residency, Up to 6 Years Allowed
Reducing Housing Costs to Support Childbirth and Parenting

Reference photo to aid understanding of the article. Pixabay

Incheon City will officially launch the 'Cheonwon Housing' project, where tenants only pay a rental fee of 1,000 won per day, starting next year.

Incheon City recently announced plans to supply 1,000 units annually of 'Cheonwon Housing,' renting homes at 1,000 won per day or 30,000 won per month, to newlywed couples beginning next year. The city plans to support newlyweds or prospective newlyweds within seven years of marriage for an initial period of two years, extendable up to six years.

There are two methods: 'Purchased Rental,' where Incheon Urban Corporation buys and rents out homes, and 'Jeonse Rental,' where applicants select market homes (under 85㎡ exclusive area), and Incheon City signs a jeonse lease contract and provides support. The aim is to reduce housing costs for newlyweds and provide practical assistance for childbirth and child-rearing.

Considering that the average monthly rent for private housing in the Incheon area is 760,000 won, the 'Cheonwon Housing' allows for residence at about 4% of that cost. Provided by Incheon City

Incheon City has completed administrative procedures such as budget allocation and recently signed a business agreement with Incheon Urban Corporation. The corporation has begun practical work to recruit tenants and is preparing for move-ins starting next year, initially focusing on purchased rental homes and then sequentially recruiting for jeonse rental homes.

Considering that the average monthly rent for private housing in Incheon is 760,000 won, 'Cheonwon Housing' allows living at about 4% of that cost. This is expected to significantly reduce housing expenses for newlyweds and provide substantial support for childbirth and child-rearing.

Mayor Yoo Jeong-bok stated, "Starting in 2025, Incheon City will take the lead in implementing policies to create a city where families raising children can do so without worrying about housing, and where children can be happy."