Ulsan's 'Bold Move'... Launching the Nation's Largest 'Newlywed Housing Cost Support New Deal'

Monthly Rent Up to 250,000 KRW · Maintenance Fee 100,000 KRW ... Up to 10 Years Free Support

Budget of 82.3 Billion KRW Invested to Ensure Housing Stability and Overcome 'Low Birthrate'

Ulsan City Hall exterior view.

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] The largest free housing cost support project for newlyweds in Korea is being launched in Ulsan. It is a groundbreaking initiative that will provide support for up to 10 years with a budget exceeding 80 billion KRW.

On the 13th, Ulsan City announced that it is promoting this project as part of the Ulsan-type New Deal to help stabilize housing for young people and overcome the serious population cliff crisis.

On the 13th at 2 p.m., Ulsan Mayor Song Cheol-ho will hold a press conference at Songjeong Happy Housing, where many newlywed couples reside. He plans to introduce the housing cost support for newlyweds and specific project plans to actively address the population decline caused by the sharp drop in marriage and birth rates.

This project will be implemented for up to 10 years from April 1st to December 31st, 2030. With a total project cost of 82.3 billion KRW, it plans to support 33,700 newlywed households.

The support targets newlywed couples aged 19 to 39 living in public rental housing, with a marriage period of 10 years or less.

Monthly rent support is up to 250,000 KRW, and management fees up to 100,000 KRW will be provided differentially according to the number of children born, with free support for up to 10 years.

In the first year of the project, this year, 24 billion KRW will be supported, including 1.9 billion KRW for rent for 1,300 newlywed households and 500 million KRW for management fees for 880 households. Management fee support applies to households with one or more children.

Ulsan City is currently negotiating with the Ministry of Health and Welfare to establish a social security system for housing cost support, and once the details are finalized, it will hold project briefing sessions by eup, myeon, and dong (township-level administrative units) and conduct preliminary promotions.

Applications will begin in March, and housing cost support for newlyweds will officially start in April.

This project takes into account the results of the Ministry of Land, Infrastructure and Transport’s ‘2019 Housing Survey,’ which identified housing cost burden as a major factor hindering marriage and childbirth.

Ulsan City plans to overcome the housing instability of young people and the low birthrate problem by supporting public housing rent and management fees for newlywed households for up to 10 years.

Plans are also being considered to build Ulsan-type Happy Housing on public office sites within innovative cities with good location conditions.

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