Daejeon City Supports Guarantee Fees for Youth Jeonse Deposit Refunds

Daejeon City announced on the 24th that it will support local youth with up to 300,000 KRW for the jeonse deposit return guarantee fee.

Applications for support will begin on the 26th of this month. This project is implemented to prevent damage from non-return of jeonse (monthly rent) deposits by young tenants and to strengthen housing stability by fully supporting the jeonse return guarantee fee already paid.

Daejeon City is implementing the project with a budget of 600 million KRW this year, receiving 50% of the funding from the Ministry of Land, Infrastructure and Transport.

The support target is non-homeowners aged 18 to 39 who reside in Daejeon according to their resident registration, have signed up with jeonse deposit return guarantee institutions such as Housing and Urban Guarantee Corporation (HUG), Korea Housing Finance Corporation (HF), or Seoul Guarantee Insurance (SGI) since January 1st, with a rental deposit of 300 million KRW or less, and an annual income of 50 million KRW or less.

Newlyweds are included if their marriage period is within 7 years as of the application date or if their combined income is 70 million KRW or less.

Applicants wishing to receive support must visit the administrative welfare center in charge of their address in person.

However, married applicants may have their spouse apply on their behalf if they bring a power of attorney, identification cards of both the applicant and the proxy, and a marriage certificate.

Required documents include the guarantee fee support application form, pledge, jeonse deposit return guarantee certificate, proof of guarantee fee payment, lease contract, full real estate registration certificate, resident registration copy, marriage certificate, a copy of the bankbook in the applicant’s name, and the previous year’s income certificate.

Daejeon City expects that about 3,700 people will be able to receive guarantee fee support through this project this year.

For more detailed information about the project, applicants can inquire at the administrative welfare center in charge of their address.

Meanwhile, tenants residing in rental housing owned by registered rental business operators under the “Special Act on Private Rental Housing” who are corporations (such as company-supported accommodations) are excluded from this youth jeonse deposit return guarantee fee support project.

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