Yeosu City Provides Interest Support for Newlywed Couples' Housing Jeonse Loan

Starting from the 22nd, up to 5.4 million KRW support over 3 years for 375 newlywed households without homes

[Asia Economy Honam Reporting Headquarters Reporter Lee Hyung-kwon] Yeosu City (Mayor Kwon Oh-bong) announced on the 20th that it will support part of the interest on jeonse loan funds for newlyweds in the city to reduce the burden of marriage on young people and help them settle in stable housing.

The eligibility criteria are newlywed couples without a house who have lived in Yeosu City for at least one year before the marriage registration date (married within 5 years, both spouses under 49 years old), with a combined annual income of 100 million KRW or less, and a housing area of 85㎡ or less.

Applications are accepted on a first-come, first-served basis for about 375 households until the budget is exhausted. Depending on the remaining loan amount, support of 50,000 KRW to a maximum of 150,000 KRW per month can be received for up to 3 years.

Exclusions include those receiving housing purchase support such as housing benefits from the national or local governments, or those living in public rental housing (National, Permanent, LH Purchase Rental, LH Jeonse Rental Housing), among others.

Applications can be submitted from the 22nd by downloading the application form from the Yeosu City website’s announcement section and visiting the local eup/myeon/dong office. For more details, contact the Population and Employment Division.

A city official said, “This policy was prepared so that young people can plan a happy future including childbirth and parenting by alleviating economic burdens,” and added, “We hope for much interest and many applications.”

Meanwhile, Yeosu City is also implementing the ‘Newlywed Home Loan Interest Support Project’ for 58 households on a first-come, first-served basis, targeting newlyweds and multi-child families who have purchased homes. The application method is the same as for the jeonse loan interest support project, and applications are accepted until September 29.

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