Jeonse Deposit Return Guarantee Fee for Youth and Newlyweds, Gyeongnam Province Will Refund the Full Amount!

Leaseholders Without Homes Under 200 Million KRW

Apply Online or In-Person After Joining the Return Guarantee

Gyeongnam Provincial Government Office.

[Asia Economy Yeongnam Reporting Headquarters Reporter Lee Seryeong] Gyeongsangnam-do will invest a total project cost of 20 million KRW starting in March to promote a support project for the guarantee fee of the Jeonse deposit return guarantee for youth and newlyweds.

The Jeonse deposit return guarantee is insurance that compensates tenants who have signed a housing lease contract for damages caused by not receiving their Jeonse deposit back.

The province will fully support the insurance premium to prevent guarantee accidents where homeless youth and newlywed tenants fail to get their Jeonse deposit returned.

This year, the project targets eight cities and counties: Jinju, Tongyeong, Sacheon, Gimhae, Miryang, Haman, Changnyeong, and Goseong.

Nine cities and counties, including Changwon City, which independently promotes the project, and Geoje City, which showed no or low demand and no intention to participate based on demand surveys by city and county, were excluded.

If you sign up for the return guarantee by December this year and apply online or at the city or county office where the rental housing is located, you will receive full support for the guarantee fee you paid.

The support target is homeless youth and newlyweds with a household income below 180% of the median income who have signed a lease contract with a Jeonse deposit of 200 million KRW or less, regardless of housing area.

Applicants can be youth aged 19 to 39 or couples married within 7 years regardless of age.

Even if you have joined the return guarantee, those whose Jeonse deposit return guarantee period has already expired as of the application date or those registered as corporate businesses are not eligible for support.

Guarantee institutions include Seoul Guarantee (SGI), Korea Housing Finance Corporation (HF), Housing and Urban Guarantee Corporation (HUG), and entrusted financial institutions (Shinhan, Kookmin, Woori, NH Nonghyup, Gyeongnam, etc.), each with different enrollment conditions and guarantee fees.

Applications can be made online through the Gyeongnam Baro Service website or by visiting the city or county office where the rental housing is located.

For more details, you can check the notice and announcement boards on the websites of the eight cities and counties or contact Gyeongsangnam-do and the respective cities and counties for guidance.

Heo Dongsik, Director of the Urban Transportation Bureau, said, “Cases where homeless youth and newlywed tenants fail to get their precious Jeonse deposits back occur frequently. This project will help protect Jeonse deposits, reduce economic burdens, and ensure stable housing life.”

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