Up to 300 Million Won Jeonse Deposit for Tenants Without Property Ownership
On May 30, Sejong City announced that it has increased the maximum support limit for the guarantee fee for the jeonse deposit return guarantee from the previous 300,000 won to up to 400,000 won in order to protect tenants' jeonse deposits.
The jeonse deposit return guarantee fee support program is a system designed to encourage tenants to enroll in guarantee insurance that allows them to recover their deposits in the event of jeonse fraud.
Eligible participants, after undergoing a qualification review, can receive support for the guarantee fee of the return guarantee up to a maximum of 400,000 won.
To qualify, applicants must be tenants without property ownership who have joined a valid jeonse deposit return guarantee as of the application date, with a deposit of 300 million won or less, and must also meet income criteria.
For income criteria, young people aged 19 to 39 must have an annual income of 50 million won or less, general citizens 60 million won or less, and newlyweds married within seven years 75 million won or less.
Applications for the program can be submitted via the Government24 website, the Housing and Urban Guarantee Corporation's Safe Jeonse Portal, or by visiting the city's Housing Division in person with the required documents.
Seong Siguen, head of the Housing Division, stated, "The jeonse deposit return guarantee fee support program encourages insurance enrollment to prevent jeonse fraud and reduces the financial burden on tenants," adding, "The city will actively pursue a variety of housing policies to ensure residential stability for citizens."
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