LH Donates 230 Million Won to Households in Livelihood Crisis

Gyeongnam, Woori, Hana Bank Total 330 Million Won Including 130 Million Won

On the 26th, Korea Land and Housing Corporation (LH) announced that it delivered a donation of 330 million KRW to the Housing Welfare Foundation to support the livelihood stabilization of vulnerable households, together with Gyeongnam Bank, Woori Bank, and Hana Bank at the LH headquarters in Jinju, Gyeongnam.

The donation was raised to support households facing livelihood crises due to economic difficulties caused by high interest rates and high inflation, with LH contributing 200 million KRW and Gyeongnam, Woori, and Hana Banks donating 130 million KRW.

The support targets low-income vulnerable groups residing in LH rental housing who are at risk of eviction due to long-term arrears caused by unavoidable circumstances such as unemployment, illness, or disability. To ensure that the funds are provided to those who genuinely need assistance, the recipients will be selected through the 'LH Housing Support Committee,' which includes external members from local governments and NGOs.

The Housing Welfare Foundation will distribute the support funds to vulnerable households, providing up to 3 million KRW per household to cover overdue rent and maintenance fees. Additionally, if the household wishes to move to a new residence, the funds can also be used to prepare the rental deposit.

Furthermore, LH plans to newly include youth preparing for independence as priority recipients in this livelihood stabilization support project for vulnerable households, strengthening pre-consultations and promoting self-reliance support for youths facing economic crises.

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