Gochang County is implementing a housing loan interest support program for newlyweds and young adults to promote housing stability for those struggling with the burden of housing costs.
This loan interest support program is designed to alleviate the initial financial burden of housing for newlyweds and young adults who have taken out loans for home purchase or rental deposits, by subsidizing a portion of their loan interest. The initiative aims to encourage marriage, childbirth, and the inflow of young people into the region.
The program targets newlywed and young adult households who have been registered residents of Gochang County for at least six months. If they meet the eligibility criteria, they can receive support for up to 2% of their outstanding loan balance (up to a maximum of 2 million won), enhancing the practical effect of housing stability and strengthening the foundation for young adults to settle in the area.
In particular, this initiative is a proactive policy response to the issues of low birth rates and population decline, reflecting the recognition that the burden of housing costs is one of the main factors deterring marriage and childbirth. It is being promoted as an effective support measure.
Sim Deokseop, Mayor of Gochang County, stated, "Housing stability is the most fundamental factor in improving the quality of life for newlyweds and young adults. We will continue to expand tailored housing welfare policies to make Gochang County a better place to live for newlyweds and young people."
Meanwhile, information on the application period and detailed eligibility requirements for the newlywed and youth housing loan interest support program can be found on the announcement board of the Gochang County website.
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