Goheung-gun, Launches 'Youth Monthly Rent Temporary Special Support Project'

Published 19 Aug.2022 10:29(KST)

Up to 200,000 KRW Monthly Support for Low-Income Youth for One Year

Goheung-gun, Launches 'Youth Monthly Rent Temporary Special Support Project'

[Goheung=Asia Economy Honam Reporting Headquarters, Reporter Sim Jeong-woo] Goheung-gun, Jeollanam-do (Governor Gong Young-min) announced that it will implement the 'Youth Monthly Rent Temporary Special Support Project' starting from the 22nd to alleviate the housing cost burden for low-income youth.

The 'Youth Monthly Rent Temporary Special Support' is a government-led temporary project to resolve the economic and employment instability of the youth due to the prolonged COVID-19 pandemic, providing up to 200,000 KRW per month for 12 months as rent support.

The support target is young people aged 19 to 34 who live independently from their parents and do not own a home. Those residing in housing with a deposit of 50 million KRW or less and monthly rent of 600,000 KRW or less can receive up to 200,000 KRW in monthly rent support for one year.

The criteria for 'low-income youth' require that the household income of the youth themselves be 60% or less of the median income, and the property value be 107 million KRW or less. Additionally, the original family including parents must meet both conditions of household income at 100% or less of the median income and property value of 380 million KRW or less to qualify for support.

However, applying the scope of independent household recognition under the Basic Livelihood Security System, youth aged 30 or older or those living separately from their parents due to marriage or other reasons are subject only to the income and property of their own household.

The application period is one year from August 22 this year to August 21 next year. The final support recipients will be selected through income and property screening between October and November, and payments will be made monthly on the 25th for 12 months within the payment period (November 2022 to December 2024). However, for recipients of housing benefits, the monthly rent support limit of 200,000 KRW will be reduced by the amount of housing benefits received.

Applications can be made online through Bokjiro (bokjiro.go.kr) or by visiting the eup/myeon office. Required documents include ▲ID card ▲lease contract ▲proof of payment for three months’ rent ▲family relation certificate ▲copy of bankbook.

This project excludes youth living with their parents, homeowners, those with lease deposits exceeding 50 million KRW, residents of public rental housing, and those who have already received housing cost reduction benefits through the Goheung-gun Youth Didimdol Housing Stability Support Project.

A Goheung-gun official said, “We hope that the Youth Monthly Rent Temporary Special Support will provide economic stability and comfort to youth facing difficult economic conditions,” and added, “We will continue to discover various projects that can provide practical help to youth.”