Namyangju City Expands Support for Jeonse Deposit Return Guarantee Fees

Enhanced Benefits for Youth and Newlyweds

Namyangju City, Gyeonggi Province (Mayor Joo Gwang-deok) announced on the 22nd that it is continuing the Jeonse Deposit Return Guarantee Premium Support Project, which was operated last year, to prevent Jeonse fraud and alleviate the economic burden on tenants.

Namyangju City Hall view. Provided by Namyangju City

This support project was established to prevent damages such as not receiving the deposit back after the lease contract ends due to Jeonse fraud or reverse Jeonse by encouraging subscription to the Jeonse Deposit Return Guarantee through premium support.

The paid premium is supported up to 300,000 KRW, and last year, 346 people benefited from this support.

This support project started in July 2023 targeting the youth and has expanded from 2024 to cover low-income, homeless tenants of all ages including youth, non-youth, and newlyweds, providing broader support.

The eligibility criteria are tenants without home ownership who have subscribed to valid Jeonse Deposit Insurance (HUG, HF, SGI) with a housing Jeonse deposit of 300 million KRW or less as of the application date.

△ Youth (aged 19 to 39) must have an annual income of 50 million KRW or less △ Non-youth must have 60 million KRW or less △ Newlyweds within 7 years of marriage registration must meet an income criterion of 75 million KRW or less.

Applications can be submitted by visiting the Urban Architecture Division of the administrative welfare center with jurisdiction over the applicant’s address or online through the Bojogeum24 website.

An Jin-ho, head of the Housing Division, said, “We expect this support project to prevent Jeonse fraud and reduce the economic burden on tenants. We will promote subscription to the Jeonse Deposit Return Guarantee through premium support and strive to stabilize housing for ordinary citizens.”