Suwon City Provides Monthly Rent Support for Single Young Adults Living Alone

[Asia Economy (Suwon) = Reporter Lee Young-gyu] Suwon City in Gyeonggi Province will support part of the monthly rent for 100 single young adults facing economic difficulties.

On the 27th, Suwon City announced that it recently selected 100 recipients for the '2022 Youth Monthly Rent Support Project' and will provide them with 100,000 KRW per month for housing rent for up to five months.

The youth monthly rent support project provides partial housing rent assistance to unmarried single young adults aged 19 to 34 residing in Suwon City. Eligible recipients are young adults without housing who live in private buildings with a monthly rent of 500,000 KRW or less, a lease deposit of 100 million KRW or less, and whose household income is at or below 120% of the median income.

Earlier in March, the city finalized the recipients after reviewing criteria such as average health insurance premium payments and transaction amounts on lease contracts.

The city will verify monthly rent payment documents and disburse the rent support funds twice to the recipients' accounts: in June (covering March to May) and in August (covering June to July).

The city will continuously monitor the recipients, and if any disqualifying reasons arise, support will be discontinued and additional candidates from the waiting list will be selected.

A city official stated, "We hope the youth monthly rent support project will help reduce the housing cost burden for young people facing economic difficulties," adding, "We will continue to implement policies that can alleviate the burdens on young people."

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