LH, 10,500 Units of Jeonse Rental for Youth and Newlyweds Open for Continuous Application

[Asia Economy Reporter Cha Wanyong] Korea Land and Housing Corporation (LH) announced on the 2nd that it will begin the continuous recruitment of tenants for jeonse rental housing targeting youth, newlyweds, and youth preparing for independence.

Exterior view of the Korea Land and Housing Corporation (LH) Jinju headquarters building.
[Photo by LH]

Eligibility includes ▲Youth (priority 1) ▲Newlyweds (I·II) ▲Youth preparing for independence, and applications can be made for houses located nationwide regardless of the current residential area.

The youth priority 1 category supplies 3,500 units and is for those who are currently homeless as of the application date, unmarried, aged between 19 and 39, university students, job seekers who are recipients of livelihood, medical, or housing benefits, low-income groups, and youth from single-parent families under protection.

Rental conditions include a deposit of 1 million KRW, and rent is about 1~2% of the jeonse support amount. The rental period is up to 6 years, and the support limit is up to 120 million KRW based on the metropolitan area.

Newlyweds include homeless household members who have been married within 7 years (including prospective couples), married households with children under 6 years old, and single-parent families, classified into Newlywed I and II according to income and asset criteria. Newlywed I supplies 5,000 units, and Newlywed II supplies 2,000 units.

The rental period for Newlywed I is up to 20 years, and for Newlywed II, it is 6 years (10 years if there are children). The support limit is 135 million KRW for Newlywed I and 240 million KRW for Newlywed II based on the metropolitan area.

Jeonse rental housing for youth preparing for independence is supplied to those who have ended foster care or have left child welfare facilities within 5 years, as well as extended protection children. LH prioritizes youth preparing for independence within the supply volume of youth jeonse rental housing.

The rental period is up to 6 years but can be extended up to 20 years if certain conditions are met, and the support limit is the same as for the youth category.

An LH official said, “We hope that this recruitment of jeonse rental housing tenants will greatly help stabilize housing for homeless households such as youth, newlyweds, and youth preparing for independence.”

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