Jinju City Provides Customized Housing Cost Support for Newlyweds and Youth

Active Promotion of Housing Support Projects for Vulnerable Groups
Implementation of Multi-Family Housing Management Support Projects

Jinju City in Gyeongnam is implementing various housing support projects targeting young people, newlyweds, and vulnerable groups to alleviate the housing cost burden on low-income residents and to create a stable and comfortable living environment.

Additionally, to promote a pleasant living environment for residents of multi-family housing, the city is carrying out a multi-family housing management support project that provides funds for the maintenance and repair of aging common facilities in apartment complexes, and supports expenses such as common electricity fees and elevator safety management costs for permanent rental housing.

The city is also promoting various housing cost support projects to reduce the housing cost burden on newlyweds and young people, thereby encouraging young people to become independent and settle in the region.

Jinju City Hall exterior view.

The project areas include ▲support for interest on housing jeonse loan for multi-child families ▲temporary special support for youth monthly rent ▲Jinju City youth monthly rent support ▲interest support for youth housing rental deposit loans ▲interest support for newlywed housing purchase loans ▲interest support for newlywed housing jeonse loans ▲support for jeonse deposit return guarantee fees, among others.

The multi-child family housing jeonse loan interest support project is aimed at families raising two or more children with the youngest child under 18 years old. It supports 1.5% interest on the outstanding loan balance taken from financial institutions for jeonse funds, up to a maximum of 1 million KRW. Applications will be accepted in February, and about 50 households will be selected and supported in March.

For parents and non-homeowning young people living separately who are struggling with housing costs, the city is promoting the temporary special support project for youth monthly rent, which provides up to 24 payments of a maximum of 200,000 KRW per month, and the Jinju City youth monthly rent support project.

The eligibility criteria for the temporary special support project for youth monthly rent are households with youth whose median income is 60% or less, and households including youth and their parents whose median income is 100% or less. Applications are being accepted until February 25. The Jinju City youth monthly rent support project targets non-homeowning youth household heads living in housing with a deposit of 100 million KRW or less and monthly rent of 600,000 KRW or less, with household income at 150% or less of the median income.

Starting this year, to alleviate housing instability among young people, the city is also implementing the youth housing rental deposit interest support project, which supports interest on rental deposit loans for youth housing. It supports 3% interest on loan balances up to 50 million KRW, with a maximum annual support of 1.5 million KRW.

The newlywed housing jeonse loan interest support project provides 1.5% interest support on outstanding housing jeonse loan balances, up to 1 million KRW, to non-homeowning households with a median income of 180% or less within seven years of their marriage registration date.

Notably, from this year, the eligibility for the newlywed housing purchase loan interest support project has been significantly expanded. The marriage period eligibility has been extended from five to seven years, and the purchase period for the house has been expanded to include houses purchased within seven years after the marriage registration date or within one year before the marriage registration date.

The support cycle has been changed from twice a year (semiannual) to once a year to minimize inconvenience for applicants, and the program has been revised to allow more newlyweds to receive support.

Jinju City is also making every effort to support housing welfare for vulnerable groups such as basic livelihood security recipients, near-poverty households, and persons with disabilities. The project areas include ▲housing benefit support ▲housing renovation support for persons with disabilities ▲housing improvement support for vulnerable rural households.

Housing benefit support is a project that alleviates the housing cost burden of vulnerable low-income households with unstable housing by providing rental benefits and repair and maintenance benefits for owner-occupied households. Rental benefits vary by household size, ranging from 191,000 KRW for a single-person household to 297,000 KRW for a four-person household. Repair and maintenance benefits support home renovations from 5.9 million KRW up to a maximum of 16.01 million KRW, depending on the degree of housing aging.

The housing renovation project for persons with disabilities supports the installation of convenience facilities such as bathroom remodeling, lowering thresholds, and installing ramps within a budget of 3.8 million KRW per household for registered persons with disabilities whose household income is below the previous year's average monthly income of urban workers per household, as defined by the Disabled Welfare Act.

Furthermore, the city is implementing a housing improvement project for vulnerable rural households to support the renovation of aging homes in low-income rural households. With increased support amounts compared to last year, the project plans to assist seven households with expenses such as wallpaper, flooring, and sink replacement within a budget of 7 million KRW per household.

Jinju City operates a multi-family housing management support project to ease the economic burden on residents and create a pleasant living environment by partially supporting the costs required for maintenance and repair of aging common facilities in apartment complexes.

The support targets multi-family housing complexes with 20 or more households, excluding rental housing, that have passed the usage inspection more than 10 years ago. It supports costs for maintenance and repair of security lights, water and sewage facilities, roads, parking lots, and other ancillary welfare facilities within the complex, as well as rooftop waterproofing and crack repairs of major structural parts.

Since its launch in 2010, the multi-family housing management support project has provided a budget of 8.8 billion KRW to 260 apartment complexes in the city, contributing to improved residential environments and safety measures for hazardous facilities, thereby creating a pleasant and safe apartment environment. This year, with a total project budget of 800 million KRW, support of up to 50 million KRW per complex will be provided depending on the number of households.

Additionally, the city annually supports 40 million KRW for common electricity fees of permanent rental housing, contributing to improving the quality of life of residents by reducing management fee burdens for socially protected groups.

Mayor Jo Gyu-il stated, “We will not hesitate to support efforts to make Jinju a better place to live by expanding the target for housing mortgage loan interest support projects for newlyweds and young people, providing housing cost support for low-income vulnerable groups such as persons with disabilities, and repairing aging homes.”