Gyeonggi-do Supports Up to 300,000 KRW for Youth Jeonse Deposit Return Guarantee Fees

Gyeonggi Provincial Government

Gyeonggi Province will start accepting applications for the 'Youth Jeonse Deposit Return Guarantee Fee Support Project' from the 26th.

This project aims to encourage young people in the province to subscribe to the Jeonse deposit return guarantee to prevent Jeonse fraud and other related damages. Gyeonggi Province will cover the full guarantee fee (up to 300,000 KRW).

Out of the total project budget of 1.2 billion KRW, 180 million KRW will come from provincial funds and 420 million KRW from city and county funds.

The support targets young people who have subscribed to the Jeonse deposit return guarantee (HUG, HF, SGI) after January 1 of this year, with a rental deposit of 300 million KRW or less and an annual income of 50 million KRW or less (70 million KRW or less for newlyweds).

The age criterion for youth is 19 to 34 years old, according to the 'Gyeonggi Province Youth Basic Ordinance.'

From the 4th of next month, applications will also be accepted online through the Gyeonggi Minwon24 website.

When a young person applies for the project, after confirmation by the city or county official, they will receive notification of the guarantee fee application result via text message and email within 30 days.

The full guarantee fee (up to 300,000 KRW) will be paid to the applicant's account within 15 days after the decision notification.

Kim Tae-cheol, head of the Housing Welfare Team of Gyeonggi Province, said, "We believe the most effective way to prevent Jeonse damage is to subscribe to the Jeonse deposit return guarantee. Recently, as cases of Jeonse damage have increased, many young people are afraid to enter into Jeonse contracts. We hope that through the guarantee fee support, many young residents in Gyeonggi Province will be able to sign Jeonse contracts with peace of mind."

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