Naju City Promotes 'Youth, Newlywed Couples, and Multichild Families Support Project'

[Naju=Asia Economy Honam Reporting Headquarters Reporter Lee Han-hyuk] Naju City, Jeollanam-do, is recruiting candidates for the ‘Youth Hope Stepping Stone Account’ and the ‘Newlywed & Multi-child Family Housing Support’ projects to help young people and newlyweds settle down stably.

According to the city on the 2nd, the ‘Youth Hope Stepping Stone Account’ is a project to support the independence of low-income working youth in the province, recruiting 60 people by the 8th.

If a young person saves 100,000 KRW monthly for three years, the local government will additionally support 100,000 KRW, allowing them to prepare 7.2 million KRW (interest excluded) at maturity.

Applicants must be youth aged 18 to 39 residing in the city, with ‘household income recognized amount at or below 120% of the median income standard,’ and ‘have worked or managed a business for at least 3 months in the last 6 months.’

The housing support project assists newlyweds and multi-child families with housing loan interest and will recruit and select 28 people by the 5th of next month.

This support project targets newlyweds and multi-child families who purchased and reside in houses within Naju City from November last year to this month, providing up to 150,000 KRW monthly for up to three years to families who pass loan screening for supported products from institutions such as the Korea Housing Finance Corporation.

Applications for both projects must be submitted within the deadline to the administrative welfare center with jurisdiction over the applicant’s address by filling out and attaching the required documents posted on the city hall website’s public notice section.

A city official said, “We hope this will greatly help youth independence support and reduce housing cost burdens for newlywed and multi-child families,” adding, “We will continue to promote various support policies for the stable settlement of youth and new residents.”

Naju=Asia Economy Honam Reporting Headquarters Reporter Lee Han-hyuk lhh3633@asiae.co.kr

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