Gangnam-gu Doubles Support for Newlywed Couples and Youth Monthly Rent Loan Interest

Annual Support Increased from 1 to 1.5 Million KRW to Up to 3 Million KRW
Income Criteria Relaxed... Applications Open from April 14

Gangnam-gu, Seoul (District Mayor Jo Seong-myeong) announced on the 24th that it will double the upper limit of the support amount for the jeonse and monthly rent loan interest support project for newlywed couples and young single-person households in the district, and will recruit applicants from April 14 to May 30.

The district increased the support amount to provide practical help to newlywed couples and young people who face difficulties settling down due to relatively high housing costs compared to other areas. If selected as a beneficiary this year, newlywed couples can receive support ranging from a maximum of 1.5 million KRW to 3 million KRW, and young single-person households can receive from 1 million KRW to 2 million KRW.

Income criteria have also been relaxed. For couples applying, the lower limit of an annual income of 97 million KRW has been removed, and the upper limit has been raised from 120 million KRW to 130 million KRW. For young people, the criteria have been simplified to an annual income of 60 million KRW or less without a lower income limit. To allow more residents to benefit, new applicants will be prioritized this year, and extension applicants will be supported on a secondary basis.

The application criteria for newlywed couples are ▲ residents registered in Gangnam-gu within 7 years from the marriage registration date as of the announcement date, ▲ both spouses must be without home ownership, ▲ combined annual income of the couple must be 130 million KRW or less, and ▲ the applicant or spouse must have a lease contract for a residential house or residential officetel (exclusive or contract area of 85㎡ or less or deposit of 700 million KRW or less).

The criteria for young applicants are ▲ single residents aged 19 to 39 registered in Gangnam-gu, ▲ annual income of 60 million KRW or less, and ▲ the applicant must have a lease contract for a residential house or residential officetel (exclusive or contract area of 60㎡ or less or deposit of 300 million KRW or less).

The district plans to provide support funds in June after document submission and review. The support period is up to 3 years, with eligibility reviewed annually without automatic renewal. For more details, visit the Gangnam-gu Office website or contact the Housing Division at 02-3423-6047.

Meanwhile, Gangnam-gu has been steadily implementing the jeonse and monthly rent loan interest support project since 2023 to help stabilize housing for newlywed couples and young people, supporting 310 households over the past two years.

District Mayor Jo Seong-myeong said, “To ensure housing stability for future generations, we have significantly increased the support amount for the jeonse and monthly rent loan interest support project this year and lowered the application threshold. We hope many newlywed couples and young people facing difficulties due to high housing costs will apply.”