LH to Provide 300 Million KRW Annual Housing Support Fund to Youth Preparing for Independence

Providing 200,000 Won Per Person to 1,500 People

Korea Land and Housing Corporation (LH) announced on the 29th that, together with Hope Friends Kia Daechek, it will provide a total of 300 million KRW annually, giving 200,000 KRW each year as move-in support funds to 1,500 self-reliant youth moving into LH rental housing.

LH Gyeongnam Innovation City Headquarters exterior view. [Photo by LH]

The support is intended for purchasing daily necessities and household items needed at the time of moving in, and the full-scale distribution of the move-in support funds will begin in August.

The two organizations expect this project to greatly assist self-reliant youth who are leaving child welfare facilities or foster families and taking their first steps into society to establish stable independent living.

Additionally, on the same day, LH will hold the appointment ceremony for the 2nd term of the Self-Reliant Youth Supporters. The supporters will be responsible for promoting the youth move-in support fund project and LH rental housing support system, as well as serving as mentors for their juniors.

The 2nd term supporter, Mo Yujin, said, “I sincerely thank LH and Hope Friends Kia Daechek for carrying out various projects for self-reliant youth, and I hold a dream of someday cultivating a village for self-reliant youth to create a place to return to for those without a hometown.”

Meanwhile, LH provides rental housing to about 1,400 self-reliant youth who leave child welfare facilities each year to ensure their housing stability, and the total number of houses supported from 2018 to last year has reached approximately 6,300 units.

The deposit for rental housing provided to self-reliant youth is 1 million KRW, and the rent is very affordable, ranging from 30% to 80% of the market price. Construction rental housing such as National and Happy Housing is available through the Child Rights Protection Agency, while purchased and jeonse rental housing announce tenant recruitment at the beginning of the year and accept applications throughout the year.

In addition, LH conducts on-site housing support education for self-reliant youth, childcare facility instructors, and local government officials, and also provides housing counseling through the U-Start Counseling Center, a dedicated call center for self-reliant youth.

Ha Seungho, Head of LH’s National Housing Welfare Headquarters, stated, “Every year, 2,400 youth leave child welfare facilities and take their first steps into society. With a parent’s heart, we will continue to pay attention and make efforts so that self-reliant youth are not marginalized and can have warm companionship.”

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