Gwangju City to Continue 'Newlywed Couple Jeonse Loan Interest Support' This Year

Loan Amount Interest Support of 0.5~1% Based on Number of Children... Up to 6 Years

[Asia Economy Honam Reporting Headquarters Reporter Yoon Jamin] Gwangju Metropolitan City announced on the 2nd that it will continue the ‘Gwangju Aikiwoom Newlywed Couple Jeonse Loan Interest Support’ project this year following last year.

The newlywed couple jeonse loan interest support project is a marriage support policy under the initiative ‘Mom-friendly Gwangju, good for having and raising children,’ aimed at housing stability for young people and newlyweds who hesitate about marriage and childbirth due to the burden of housing costs.

The support targets newlywed couples without housing who are either planning to marry within 3 months or have been married for less than 7 years, with resident registration and leased housing located in Gwangju.

Those who have newly taken out or extended a ‘Housing and Urban Fund’ jeonse loan exclusively for newlywed couples after November 1, 2021, are eligible, and applications have been accepted on the Gwangju Aikiwoom website since the 1st.

The support provides differentiated assistance based on the number of children within the total interest amount paid monthly to the bank on the loan amount: 0.5% for no children, 0.7% for one child, and 1.0% for two or more children. The support period is up to 6 years from the initial loan date.

Citizens wishing to receive support must obtain a ‘Loan Confirmation Certificate’ from the handling bank and attach it; after reviewing the application documents, eligibility will be notified.

Eligible recipients can apply for interest support in early May by attaching documents such as the loan interest payment statement and will receive the support amount in June.

The banks handling the Housing and Urban Fund newlywed couple exclusive jeonse loans are NongHyup, Woori, Kookmin, Shinhan, and Industrial Bank of Korea.

In this regard, the newlywed couple exclusive Buttimoek Jeonse loan has been implemented since 2018, and the ‘Housing and Urban Fund’ allows loans up to 80% of the lease deposit for houses with exclusive area of 85㎡ or less and lease deposits of 200 million KRW or less.

Additionally, the target is newlywed couples who are household heads without housing, have signed a housing lease contract and paid at least 5% of the lease deposit, with a combined annual income of 60 million KRW or less and net assets of 292 million KRW or less.

Detailed information can be found on ‘Gwangju Aikiwoom.’

Choi Sunyoung, head of the city’s Women and Family Division, said, “We will continue to promote the newlywed couple jeonse loan interest support project to provide practical benefits to newlywed couples,” adding, “We will faithfully fulfill the role of a housing stepping stone to realize ‘Mom-friendly Gwangju, good for having and raising children, a Gwangju where children can be born and raised together.’”

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