Gyeongbuk Province Supports Newlyweds with Up to 200 Million KRW in Jeonse Deposit Loan Interest Assistance

Agreement Between Korea Housing Finance Corporation, Daegu Bank, and NH Nonghyup

Lee Cheol-woo, Governor of Gyeongbuk Province (second from the left in the photo), is taking a commemorative photo after signing a business agreement with Lee Jeong-hwan, President of the Korea Housing Finance Corporation, and Kim Tae-oh, President of Daegu Bank, on the 13th.

[Asia Economy Yeongnam Reporting Headquarters Reporter Park Dong-wook] Gyeongsangbuk-do Province signed a business agreement on the 13th at the provincial office to promote the 'Newlywed Couple Lease Deposit Interest Support Project,' attended by Governor Lee Cheol-woo, Lee Jeong-hwan, President of Korea Housing Finance Corporation, Kim Tae-oh, President of Daegu Bank, and Nam Jae-won, Head of NH Nonghyup Gyeongbuk Headquarters.

In the business agreement, considering the sharp decline in marriages among young people due to high housing prices, they agreed to jointly cooperate to create a stable residential environment for newlywed couples. Gyeongbuk Province will oversee the project, Korea Housing Finance Corporation will handle the guarantee screening for jeonse loan funds, and Daegu Bank and Nonghyup will be responsible for loan implementation.

The support targets are newlywed couples without housing who have registered their residence in the province and have been married within 7 years. The combined annual income of the couple must be 90 million KRW or less, and those eligible for other benefits such as housing benefits are excluded.

The support details include differential support of up to 3% interest on jeonse lease deposit loans up to a maximum of 200 million KRW, based on income brackets. The basic support period is 2 years, but it can be extended up to 4 years, with an additional 2 years per child.

Applicants can apply through the support and verification system on the provincial office website, visit the city or county office to obtain a recommendation letter from the mayor or county head, and then apply for the loan through Daegu Bank and Nonghyup.

Gyeongbuk Province has secured a project budget of 4.28 billion KRW (50% provincial funds, 50% city/county funds) and plans to announce detailed information according to the agreement by the end of June.

Governor Lee Cheol-woo of Gyeongbuk Province said, "For the regions to thrive, it is essential to first create a foundation where young people can settle and live." He added, "I hope this business agreement will serve as a stepping stone to making Gyeongsangbuk-do a place where young people flock to find jobs and raise children."

This content was produced with the assistance of AI translation services.