Incheon City will provide moving expense support to young people relocating to Incheon from other cities and provinces to help alleviate their housing cost burden.
The support is available to young, non-homeowner heads of household aged 18 to 39 (born between 1985 and 2007) who have moved from another city or province to Incheon and completed their resident registration after January 1 of this year.
Applicants must reside in a home with a jeonse or monthly rent deposit of 250 million won or less, and their pre-tax monthly income must be at or below 120% of the median income for single-person households (2,871,000 won). In addition, the applicant, the head of household on the resident registration, and the tenant listed on the lease contract must all be the same young person.
However, those who have already received benefits from a similar program in an Incheon district, those whose landlord is a direct lineal relative, those who have moved into a rental property without a lease contract or where resident registration is not possible, and those whose lease contract period is less than one year are excluded from eligibility.
The city plans to support up to 400,000 won per person for a total of 250 people, with 125 recipients in the first half and 125 in the second half of the year. Eligible expenses include real estate brokerage fees, moving service fees, personal cargo van rental fees, and ladder truck rental fees?costs directly related to moving.
Applications for the first half of the year can be submitted online via 'Incheon Youth Toktok' starting from the 7th of next month. Applications for the second half will be accepted in October.
An official from Incheon City stated, "This project was proposed through the participatory budgeting system, and we hope it will provide practical assistance to young people who frequently move for studies or employment and face poor housing conditions."
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