Seoul City to Provide Up to 200,000 KRW Monthly Support to 25,000 Youth

The Seoul Metropolitan Government announced on the 30th that it is recruiting recipients for the '2023 Youth Monthly Rent Support' program, which provides up to 200,000 KRW per month in rent support for young people.

The city will accept applications for the '2023 Youth Monthly Rent Support' from 10 a.m. on the 3rd to 6 p.m. on the 16th of next month through the Seoul Housing Portal. The Youth Monthly Rent Support program aims to alleviate the high housing cost burden in Seoul by providing up to 200,000 KRW per month for 10 months to 25,000 young people aged 19 to 39.

Eligible applicants are single-person households of young people aged 19 to 39 who are registered residents of Seoul and do not own a home, with an income at or below 150% of the median income. They must be actually residing in a building with a rental deposit of 50 million KRW or less and monthly rent of 600,000 KRW or less, and their general assets must not exceed 100 million KRW.

The city selects recipients by dividing them into four categories based on monthly rent, rental deposit, and income. If the number of applicants exceeds the selection quota, recipients will be chosen through a random computerized lottery within each category. The final list of recipients will be announced at the end of July, and rent support will be provided every two months starting from the end of August. However, the first payment will be made as a lump sum covering four months, considering the review period.

Han Byung-yong, Director of the Seoul Housing Policy Office, said, "We will provide thorough support so that low-income young people are not forced into vulnerable housing conditions, practicing solidarity with housing-vulnerable groups."

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