Gyeonggi-do Strengthens Housing Welfare for Youth Preparing for Independence... Implements Measures Against Jeonse Fraud and More

Gyeonggi Province held the "Gyeonggi Province Independent Youth Housing Support Progress Review Meeting" at the provincial government office on the 23rd.

Gyeonggi Province is promoting measures such as operating a "Jeonse fraud" prevention brokerage assistant and expanding financial support for housing costs to strengthen housing welfare for young adults aged 18 and over who are preparing for independence after leaving child welfare facilities or completing foster care.

On the 28th, Gyeonggi Province announced that it has established and begun implementing the "2023 Housing Support Promotion Plan for Young Adults Preparing for Independence," which includes these measures.

This plan summarizes discussions from the "Policy Forum on Housing Stability for Young Adults Preparing for Independence" held by the province and the provincial council on October 28 last year, as well as related meetings held in September last year and January this year.

First, to prevent young adults preparing for independence from falling victim to the socially problematic "Jeonse fraud," the province will collaborate with the Korea Association of Realtors to appoint and operate regional "Real Estate Brokerage Assistants for Young Adults Preparing for Independence."

If desired, local real estate agents will be dedicated to supporting brokerage of listings for these young adults. During this year's pilot period, about 50 brokerage assistants will be operated, with plans for future expansion.

Using the "Low-Income Resident Real Estate Brokerage Fee Support Project" for basic livelihood security recipients who sign contracts for housing sales or Jeonse/Monthly Rent under 200 million KRW, brokerage fees will be supported up to a maximum of 300,000 KRW.

To reduce financial burdens in the high-interest era, financial support for housing costs will also be expanded.

Accordingly, the age eligibility for free Jeonse rental support will be adjusted from under 20 years old to under 22 years old. The housing benefit eligibility will also be expanded from 46% or less of the median income to 47% or less. The interest support rate for Jeonse loan interest has been raised from the existing 2% to 4%. This includes full support for loan guarantee fees (up to 45 million KRW) and 4% of the loan interest.

The announcement period for tenant recruitment targeting young adults preparing for independence for purchased rental housing and Happy Housing has also been extended from the previous 14 days to 24 days. Before the announcement, the supply volume delivery system to child welfare facilities will be strengthened to help ensure that application opportunities are not missed.

Lee Gye-sam, Director of the Urban Housing Office of the province, said, "Providing customized housing welfare for young adults preparing for independence is urgently needed," and promised, "We will fully support them with the 'heart of a parent' so that they can become healthy members of society."

Earlier, on the 23rd, the province held the "Gyeonggi Province Housing Support Status Check Meeting for Young Adults Preparing for Independence" at the provincial government office.

At the meeting, Jang Min-su, a member of the Gyeonggi Provincial Council, said, "I hope that Gyeonggi Province and related organizations actively address one of the most fundamental issues for young adults preparing for independence?the housing sector?so that young people can live and settle down with peace of mind."

Kim Tae-hyung, a member of the Gyeonggi Provincial Council, emphasized, "If young adults pay dormitory fees and tuition with their independence preparation funds, they have nothing left. We must maintain interest and care until these young adults succeed in becoming independent," adding, "Housing support must be practically provided from the perspective of young people, not policies created from adults' viewpoints. Investing in young people is an investment in our society."

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