Yongin City Increases This Year's Apartment Subsidies from 1.7 Billion to 2.2 Billion Won

Yongin City Hall Exterior View

[Asia Economy (Yongin) = Reporter Lee Young-gyu] Yongin City in Gyeonggi Province will provide a total of 2.2 billion KRW in subsidies for multi-family housing this year. Yongin City is accepting applications for desired complexes until the 3rd of next month.

On the 2nd, Yongin City announced that it has confirmed 2.2 billion KRW as subsidies for multi-family housing this year, an increase of 500 million KRW compared to the previous year, including raising the maximum support amount by 150% according to the 'Yongin City Multi-family Housing Management Ordinance' revised last November.

The application targets are multi-family housing such as apartments, multi-unit houses, and row houses that have been completed for more than seven years.

The subsidies can be used to repair or replace aging common facilities such as main roads of the complex, water and sewage pipes, children's playgrounds, roofs, exterior walls, and elevators.

They can also be used to improve rest facilities for security guards or cleaners.

The subsidy amount per complex is ▲ 75 million KRW for complexes with 1,000 or more households ▲ 60 million KRW for complexes with 500 to less than 1,000 households ▲ 45 million KRW for complexes with 300 to less than 500 households ▲ 30 million KRW for complexes with 20 to less than 300 households ▲ 10 million KRW for complexes with fewer than 20 households.

Applications can be submitted by visiting the city hall website, filling out the business plan, and submitting it. It must include consent forms from at least two-thirds of the owners or a resolution from the residents' representative meeting.

The city will review the submitted documents for the applying complexes, hold a Multi-family Housing Support Review Committee meeting, and select the final subsidy-supported complexes in March.

A city official explained, "We have expanded the scope of support so that more residents can benefit from the multi-family housing subsidy support project."

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