Seongnam City Supports 300,000 KRW for Jeonse Deposit Return Guarantee Fees for Youth and Newlyweds

Seongnam City Hall

Seongnam City in Gyeonggi Province will support the return guarantee fee for jeonse deposits up to 300,000 KRW to protect young people and newlyweds from jeonse fraud.

On the 31st, Seongnam City announced that it will implement the "Youth Jeonse Deposit Return Guarantee Fee Support Project" to encourage young people, who are relatively more vulnerable to jeonse fraud, to subscribe to the jeonse deposit return guarantee and prevent related damages.

The support scale is 83.4 million KRW, funded 50% by the national government, 15% by the provincial government, and 35% by the city government.

The eligibility criteria are youth who meet all of the following: ▲ subscribed to the jeonse deposit return guarantee after January 1 of this year ▲ jeonse deposit of 300 million KRW or less ▲ annual income of 50 million KRW or less (70 million KRW or less for newlyweds) ▲ aged 19 to 34 as of the application date ▲ non-homeowners residing in Seongnam.

Applications will be accepted from August 4 until the budget is exhausted.

Applicants must attach various documents such as the jeonse deposit return guarantee certificate, proof of guarantee fee payment, and a copy of the lease contract.

Seongnam City will notify applicants of the review results via text message within 30 days and deposit the guarantee fee into the applicant’s account within 15 days of notification.

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