Gyeongnam Province Rolls Up Sleeves for Housing Stability of Low-Income Groups... Interest-Free Support of 1 Billion KRW for Deposits

An Increase of Over 340 Million Won Compared to Last Year... More Than 170 Households with 1 Billion Won

[Asia Economy Yeongnam Reporting Headquarters Reporter Park Saeyan] Gyeongnam Province announced on the 11th that it will provide 1 billion KRW in interest-free rental deposit support through the rental deposit support project for low-income households.

This amount is approximately 340 million KRW more than last year, and this year it is planned to support about 170 households.

The eligible recipients are homeless households among basic livelihood security recipients and near-poverty groups residing in the province who wish to move into long-term rental housing.

Excluding the tenant’s own contract deposit, up to 20 million KRW will be supported for 2 years. Through two additional extensions, interest-free support can be received for up to 6 years.

When the period expires, the rental deposit must be returned.

Applicants can receive rental deposit support after signing a lease contract with the supplying entity such as Korea Land and Housing Corporation (LH) and submitting an application to the relevant city or county, followed by a review of eligibility.

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