Pyeongtaek City Takes Steps to Protect Security Deposits for Young Tenants

Implementation of Jeonse Fraud Prevention Support Project
Up to 300,000 KRW Support for Return Guarantee Insurance Premiums

Pyeongtaek City in Gyeonggi Province is implementing a support project to prevent young tenants from falling victim to jeonse fraud.

On the 20th, Pyeongtaek City announced that it will carry out the 'Youth Jeonse Deposit Return Guarantee Insurance Premium Support Project,' which refunds the insurance premiums paid by young people who are new to society to encourage subscription to the 'Jeonse Deposit Return Guarantee Insurance.'

The support targets are young, non-homeowning households aged 19 to 34 as of the application date, with a lease deposit of 300 million KRW or less, an annual income of 50 million KRW or less (70 million KRW for newlyweds), who have subscribed to the Jeonse Deposit Return Guarantee Insurance from January 1 of this year onwards through Housing and Urban Guarantee Corporation (HUG), Korea Housing Finance Corporation (HF), or SGI.

The maximum insurance premium support limit is 300,000 KRW. Young people and newlyweds residing in Pyeongtaek can apply by visiting the local eup/myeon/dong administrative welfare center.

Required documents for application include ▲insurance premium support application form ▲pledge ▲Jeonse Deposit Return Guarantee insurance certificate ▲proof of insurance premium payment (with payment amount indicated) ▲lease contract ▲real estate registration certificate ▲resident registration copy ▲marriage certificate ▲copy of bankbook in applicant's name ▲previous year's income certificate (including spouse for married applicants), etc.

Pyeongtaek City plans to accept preliminary applications from eligible candidates starting on the 26th, verify eligibility, and begin support from September.

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