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200,000 Won Monthly Support... Seoul Launches Applications for "Youth Monthly Rent" Program

Applications Accepted on Seoul Housing Portal from June 11 to 24
Up to 200,000 Won per Month, 2.4 Million Won per Year
Applicants Already Receiving Similar Support Are Ineligible

The Seoul Metropolitan Government is accepting applications for the "Youth Monthly Rent Support" program, which provides 200,000 won per month to help reduce the monthly rent burden for young people.


On June 10, the city announced that it will accept applications for the "2025 Youth Monthly Rent Support" through the Seoul Housing Portal website from 10:00 a.m. on June 11 to 6:00 p.m. on June 24. A total of 15,000 selected recipients will receive up to 200,000 won per month in rent support for 12 months, amounting to a total of 2.4 million won.


200,000 Won Monthly Support... Seoul Launches Applications for "Youth Monthly Rent" Program

Eligibility is limited to single-person households of non-homeowning youth aged 19 to 39 who are registered residents, and the applicant must be the tenant. If siblings or cohabitants within the eligible age range live together in the same household, only one person per household, in the name of the tenant, may apply.


Applicants must be renting a property with a deposit of 80 million won or less and a monthly rent of 600,000 won or less. However, if the combined total of the converted deposit and monthly rent does not exceed 930,000 won, applications are still accepted even if the monthly rent exceeds the limit.


Income eligibility is determined based on the 2025 health insurance premium for the applicant's household, and must be at or below 150% of the median income. If the applicant is a dependent on someone else's health insurance, the premium of the primary policyholder is used as the standard.


Applicants are excluded if they are recipients of the National Basic Livelihood Security Program, have previously received Seoul Youth Monthly Rent Support, are recipients or selected beneficiaries of government or district youth rent support programs, or are participating in similar support programs.


The required documents for submission are: ▲ Lease contract ▲ Proof of monthly rent payment (monthly rent payment confirmation) ▲ Certificate of family relations.


The final results will be announced in September, and selected applicants will receive the first round of support payments starting at the end of October.


Choi Jinseok, Director of Housing at the Seoul Metropolitan Government, stated, "We hope this recruitment for the Youth Monthly Rent Support program will help stabilize housing for young people," adding, "The city will continue to expand effective housing policies tailored to the diverse living situations of youth."


© The Asia Business Daily(www.asiae.co.kr). All rights reserved.

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