Gyeonggi Province has proposed to the central government an expansion of the age eligibility and a relaxation of the income requirements for the "Temporary Special Youth Monthly Rent Support" program, which is currently being implemented to alleviate housing costs for young people.
The Temporary Special Youth Monthly Rent Support program is a joint initiative by Gyeonggi Province, the central government, and local municipalities, providing young people with a monthly rent subsidy of up to 200,000 won for a maximum of 24 months.
The program targets young people aged 19 to 34 who do not own a home and live independently from their parents. The income requirement is set at 60% or less of the median income for the youth household, and 100% or less of the median income for the original household including parents.
However, the current system does not align with the definition of youth age as specified in the Framework Act on Youth and local government ordinances, and the income threshold for eligibility is low, which limits the number of beneficiaries.
In response, Gyeonggi Province has proposed expanding the youth age criterion from 34 years old or younger to 39 years old or younger, and raising the median income requirements for both independent youth households and original households.
Kim Taesu, head of the Housing Policy Division at Gyeonggi Province, stated, "Institutional improvements by the central government are necessary so that more young people can receive practical support," adding, "We will continue to propose measures to ensure that this becomes an effective housing support policy for the independence of young people."
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