LH Donates 330 Million KRW with Woori, Gyeongnam, and Hana Banks for Housing Crisis Families
Donation Delivered with Financial Institutions to Housing Welfare Foundation on the 15th
Used to Resolve Rent Arrears and Secure New Housing Lease Deposits
Korea Land and Housing Corporation (LH) announced on the 15th that it has delivered a donation of 330 million KRW to the Housing Welfare Foundation to support the livelihood stabilization of households facing housing crises, together with Woori Bank, Gyeongnam Bank, and Hana Bank.
The donation was raised with 200 million KRW from LH and 130 million KRW from Woori, Gyeongnam, and Hana Banks to support households facing housing crises due to the prolonged economic difficulties caused by the COVID-19 pandemic.
The support targets low-income vulnerable groups residing in LH rental housing who are at risk of eviction due to long-term arrears caused by unavoidable circumstances such as unemployment or illness. The recipients are determined through the operation of the ‘LH Emergency Housing Support Committee,’ which includes external members from local governments and NGOs to ensure that aid is provided to those who genuinely need it.
Up to 3 million KRW per household will be provided, and the funds will be used to pay overdue rent and maintenance fees. If the household wishes to move to a new residence, support for securing the deposit will also be provided. The Housing Welfare Foundation, a non-profit organization established to support housing-vulnerable groups, will deliver the funds to the households in crisis.
LH has been implementing various support projects for residents, including providing quarantine supplies to rental housing complexes nationwide due to the COVID-19 pandemic, freezing rent until 2022, and offering payment deferrals and partial reductions.
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Ha Seung-ho, Head of LH Housing Welfare Headquarters, said at the donation ceremony held at the LH headquarters in Jinju, Gyeongnam, "We thank the bank employees who participated in this support project, and we are pleased that the increased donation will allow us to support more households facing housing crises. We will continue to make various efforts to ensure housing stability for vulnerable groups."
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