Housing Finance Corporation Takes Steps to Stabilize Housing for Youth Aging Out of Child Welfare Facilities

Support for Renovation and Repair of Monthly Rent, Utility Bills, and Support Center Independent Living Facilities for Youth in Busan Area

(Photo from left) Jeon Hye-sook, Director of the Women and Family Bureau of Busan Metropolitan City; Shin Jeong-taek, President of the Busan Community Chest of Korea; Kim Min-ho, Vice President of the Korea Housing Finance Corporation; and Shim Ju-young, Director of the Busan Child Protection and Independence Support Center, are posing for a commemorative photo after signing the agreement.

[Asia Economy Reporter Park Sun-mi] Korea Housing Finance Corporation (HF) has actively stepped up to support housing stability for young adults aging out of child welfare facilities.

Korea Housing Finance Corporation announced on the 4th that it signed a social contribution agreement on ‘Housing Support for Young Adults Aging Out of Child Welfare Facilities’ together with Busan Metropolitan City, the Community Chest of Korea Busan Branch, and the Busan Child Welfare Independent Living Support Center.

Through this agreement, HF Corporation will support monthly rent and utility bills for young adults in the Busan area who become adults and age out of child welfare facilities, and donated 200 million KRW to renovate and repair the youth independent living facility of the Busan Child Welfare Independent Living Support Center.

An HF Corporation official said, “We hope our efforts will help resolve housing concerns for young adults aging out of care,” and added, “The corporation will continue to actively support young people so that they do not give up on their dreams and can become confident members of society.”

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