Namwon-si Supports 'Youth Housing Costs'... Up to 60 Months

Published 11 Jan.2022 12:55(KST)

[Namwon=Asia Economy Honam Reporting Headquarters Reporter Jeong Young-gwon] Namwon City, Jeonbuk Province, is promoting the ‘2022 Namwon City Youth Housing Cost Support Project’ to alleviate the rental burden on the younger generation struggling with high housing costs and to promote their living stability and settlement.

According to the city on the 11th, the Namwon City Youth Housing Cost Support Project, which is being implemented from this year, supports up to 160,000 KRW per month for rent for a maximum of 60 months.

If the monthly rent is less than 160,000 KRW, only the rent amount will be paid, and eligibility will be verified annually through new project applications and submission of necessary documents to determine the support period within five years.

Applicants must be youth aged 19 to 39, residing in the city, registered as residents in a monthly rental contract building as of the announcement date (January 10, 2022), and meet the income criteria of 180% or less of the median income (3.5 million KRW for a single-person household).

The housing conditions are rental deposits of 100 million KRW or less and monthly rent of 600,000 KRW or less for houses and apartments.

However, those who own a house themselves or in their household, low-income housing benefit recipients, or participants in similar government or local government youth housing policy projects are excluded from support.

Applications must be submitted online directly by the youth through the city’s website by 6 p.m. on the 7th of next month, and after eligibility verification by the local town, township, or neighborhood office and the city, final selections will be made.

The selection results will be notified individually via text message in March.

A city official said, “We hope this project will help resolve housing instability for youth living in Namwon and assist in their living stability and settlement. We will continue to listen carefully to what youth need and strive to develop policies to make Namwon a city that empowers youth.”