Up to 400,000 Won in Moving Expenses Until July 31
Additional 970 Million Won Secured for Project Budget
Seongnam City in Gyeonggi Province (Mayor: Shin Sang-jin) announced on July 7 that it will recruit an additional 625 applicants for the "Employment Youth Monthly Rent and Moving Expense Support Project" until July 31.
Seongnam City Employment Youth Monthly Rent and Moving Expense Support Project Guide Poster. Provided by Seongnam City
This project provides support in three areas for eligible participants: up to 400,000 won (one-time) for real estate brokerage and moving expenses; up to 200,000 won per month for up to 10 months for jeonse deposit loan interest; and up to 200,000 won per month for up to 10 months for monthly housing rent.
Seongnam City has increased the number of beneficiaries by securing an additional 970 million won for the project through the second supplementary budget, following the execution of the main budget of 1.1 billion won this year.
The eligibility criteria require all of the following: youth aged 19 to 39 (previously 34) who are employed or have started a business and live separately from their parents without owning a home; residence in a house with an area of 85 square meters or less; residence in a house with a converted deposit of 300 million won or less; and annual income of 40 million won or less for employed youth (or 70 million won or less for couples).
As the Ministry of Land, Infrastructure and Transport's temporary special support program for youth monthly rent ended its new recruitment in the first half of this year, those who are employed and have a household income of 60% or less of the median income are also eligible for support.
However, youth who received support last year or this year, and those who are receiving the Ministry of Land, Infrastructure and Transport's temporary special support for youth monthly rent, are excluded.
Support for real estate brokerage and moving expenses is available to youth who have moved into Seongnam City or relocated within Seongnam since January 1 of this year.
Support for jeonse deposit loan interest and monthly rent is available to those who completed their move-in notification to Seongnam City at least one month prior to the application date.
Applications for support can be submitted online through the "Jobaba Apply" platform.
A Seongnam City official stated, "For this additional recruitment, we have expanded the eligible age for youth from the previous 34 to 39, and included employed youth with a household income of 60% or less of the median income," adding, "With these relaxed criteria, more young people will be able to benefit."
Seongnam City first introduced this project in March last year and provided a total of 1.512 billion won in support over one year and three months until the end of June this year, including real estate brokerage and moving expenses (429 recipients, 145 million won), jeonse deposit loan interest (265 recipients, 317 million won), and monthly rent (664 recipients, 1.05 billion won).
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