Gyeongbuk Uljin-gun Supports Interest on Rental Deposit for Newlywed Couples in the New Year
Targeting Residents in Gyeongbuk with Annual Income Below 80 Million Won
[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Gwi-yeol] Uljin-gun, Gyeongbuk Province, is implementing the ‘2022 Newlywed Couple Lease Deposit Interest Support Project’ to support better living environments and alleviate the burden of housing costs that exceed income.
The applicants must be newlywed couples residing in Gyeongsangbuk-do within 7 years of their marriage registration date or prospective newlyweds planning to marry within 3 months from the date of recommendation letter application. The combined annual income of the couple must be 80 million KRW or less, relaxed by 10 million KRW compared to last year, and they must be without home ownership.
The eligible housing includes leased homes within Gyeongbuk Province with a lease deposit of 300 million KRW or less, and loans can be provided up to 90% of the lease deposit, with a maximum of 200 million KRW. For applicants in 2022, an interest rate of up to 2.5% per annum or less is applied, while existing beneficiaries from 2020 to 2021 will have the existing interest rate of 3.0% applied until the end of the basic 2-year support period.
Applicants can consult with the designated partner banks, NongHyup Central Association and Daegu Bank, and then apply through the Housing Welfare System. After the county verifies the eligibility, applicants receive a loan recommendation letter from the Gyeongsangbuk-do Housing Welfare System and apply for the loan at the partner bank.
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Um Gi-yeon, Director of the Open Civil Complaints Division, said, “The increase in housing preparation burdens is causing a decline in the number of marriages, and even among those who marry, the poor housing environment continues to discourage childbirth.” She added, “We hope that the lease deposit interest support project will help newlywed couples who are considering having children.”
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