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

[Naju=Asia Economy Honam Reporting Headquarters Reporter Kim Yuk-bong] Naju City, Jeollanam-do, will support monthly rent to stabilize housing for low-income youth.

The city announced on the 19th that it will implement the "Youth Monthly Rent Temporary Special Support Project," which provides up to 200,000 KRW per month in rental support for one year to low-income youth starting from the 22nd.

The monthly rent support is a government project carried out for a certain period to alleviate the housing cost burden of low-income youth experiencing economic difficulties due to the prolonged COVID-19 pandemic.

The support targets youth aged 19 to 34 (born between 1987 and 2003) who live separately from their parents and are homeless residents living in housing with a rental deposit of 50 million KRW or less and monthly rent of 600,000 KRW or less.

The youth's personal income must be 60% or less of the median income for a single-person household (1,166,887 KRW), and if including parents, the combined income must be 100% or less of the median income for a three-person household (4,194,701 KRW) to qualify for support.

The assets of the youth and their parents' original household are also considered. The youth's assets must be 107 million KRW or less, and the original household including parents must have assets of 380 million KRW or less.

However, following the scope of independent household recognition under the Basic Livelihood Security System, if the youth is 30 years or older, or recognized as living separately from parents due to marriage, being an unmarried father or mother, only the income and assets of the youth's own household are applied independently.

Monthly rent support is provided up to 200,000 KRW per month within the paid rent range for a maximum of 12 months.

For recipients of housing benefits, the amount supported is the monthly rent portion after deducting the housing benefit amount.

The application period is from the 22nd of this month until August next year, and applications can be made anytime throughout the year. Eligibility can be checked by accessing the "Simulation Service" on the Bokjiro website or the "Self-Diagnosis Service" on the My Home Portal.

Youth who wish to apply can do so online via the Bokjiro website or by visiting their local administrative welfare center.

Commonly required documents include the monthly rent support application form, income and asset declaration form, lease contract (resident registration required), proof of monthly rent transfer, pledge, family relation certificate, and a copy of the bankbook.

The monthly rent support payment is scheduled to begin in November after verification of income, assets, and other eligibility criteria.

Mayor Yoon Byung-tae said, "I hope this will help reduce housing costs for youth facing economic difficulties due to COVID-19 and provide an environment where they can focus on their studies and employment. We will continue to develop various support policies for the stable settlement of youth in the local community."

Naju=Asia Economy Honam Reporting Headquarters Reporter Kim Yuk-bong baekok@asiae.co.kr

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