Won Hee-ryong: "Let's ease loans by 90% for young adults and newlyweds with repayment ability"

[Asia Economy Reporter Lee Ji-eun] Won Hee-ryong, Governor of Jeju and a leading opposition presidential candidate, proposed the 'First Home' plan, saying, "Let's ease loans up to 90% for young people and newlyweds who have the ability to repay."

On the 16th, Governor Won said on Facebook, "The recent nationwide ban on 'all-in' borrowing was issued. For newlyweds and young people from humble backgrounds, it is a proclamation more frightening than martial law and one that provokes resistance."

He pointed out, "In Korean society today, it is difficult to own a home unless you are a cash-rich or gold spoon individual," adding, "Homeless young people and newlyweds are being trapped in government-designated locations and quality rental housing."

Governor Won stated, "We cannot allow our youth and newlyweds to be confined to lifelong or basic housing without the freedom to choose between owning and renting," and said, "Let's ease loans up to 90% for young people and newlyweds who have the ability to repay." This is the so-called 'First Home' plan.

He added, "We will provide various housing options purchasable with government support added to their own income for young people and newlyweds who had given up on homeownership due to insufficient income," and said, "The government will help young people and young couples use rental housing as leverage to buy homes on their own, repay loans, and prepare for old age."

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