Jinju City Improves Youth Housing Life... Monthly Rent Support Project + Temporary Special Support 추진

Jinju City Hall.

[Asia Economy Yeongnam Reporting Headquarters Reporter Choi Soon-kyung] Jinju City, Gyeongnam Province, is promoting the ‘2022 Youth Monthly Rent Support Project’ to reduce the housing cost burden on young people facing economic difficulties due to the prolonged COVID-19 pandemic.

This project has been implemented since last year to support youth housing, and last year, monthly rent payments totaling 234 million KRW were provided to 166 young people.

This year, Jinju City will select 136 individuals and support up to 150,000 KRW per household per month for 10 months.

Applicants must be heads of households aged 18 to 39 who are registered residents of Jinju City as of the announcement date. Income criteria require household income to be between 60% and 150% of the median income, and applicants must reside in housing with a lease deposit of 100 million KRW or less and a monthly rent of 600,000 KRW or less.

However, homeowners (including household members), those renting from direct ascendants, basic livelihood security recipients, government and local government officials, employees of government-invested or funded institutions, and participants in government or local government youth housing support projects are excluded from eligibility.

The city will select recipients in June based on document review and income and asset verification, prioritizing those with lower recognized income amounts. The final selected recipients will receive monthly payments retroactively from February rent through November rent.

The support period may vary depending on the timing of moving into Jinju City and the lease contract date.

This year, a temporary special project led by the Ministry of Land, Infrastructure and Transport will also provide monthly rent support of up to 200,000 KRW for one year to low-income youth with income below 60% of the median income.

Participation in both the ‘2022 Youth Monthly Rent Support Project’ and the ‘Youth Monthly Rent Temporary Special Project’ is limited to prevent overlap, so applicants should carefully review eligibility and support details before applying.

A city official stated, “As this project has received great interest and response from youth, we will continue to do our best to help stabilize young people’s housing life.”

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