Naju-si to Recruit Tenants for 'Employment Youth Rental Housing' Until the 25th

Published 04 Oct.2023 15:40(KST)

Naju City in Jeollanam-do is recruiting tenants for the ‘Employment Youth Rental Housing’ from the 5th to the 25th of this month, where tenants only need to pay monthly apartment maintenance fees without any deposit.

According to the city on the 4th, the youth rental housing support project is one of the youth package policies under the 8th municipal administration aimed at solving housing problems for young people (aged 18 to 45) moving into Naju City.

Mayor Yoon Byung-tae has been focusing on this initiative to resolve labor shortages in industrial complex resident companies through the influx of young population and to realize an attractive Naju that young people want to return to.

Songwol-dong Buyeong Apartment. [Photo by Naju City]

The city fully supports the deposit for rental apartments in the old downtown area. Young tenants who move in only need to pay the monthly apartment maintenance fees without bearing any jeonse or monthly rent costs.

This year, the city is recruiting tenants for a total of 30 units, 15 units each at Booyoung Apartments in Songwol-dong and Samyeong-dong. The city plans to supply up to 100 rental housing units by next year.

A maximum deposit of 49 million KRW per household is supported. Tenants can live for a basic contract period of 2 years, with a possible extension of up to 4 years (one-time extension).

The eligibility criteria require applicants to be ‘youth aged 18 to 45 as of the announcement date,’ currently residing outside Naju City (in other cities, counties, or districts), and able to move their residence to Naju immediately upon moving in.

Additionally, applicants must meet all of the following conditions: be workers or prospective workers at businesses located in Naju City or business owners with verifiable earned income, and be non-homeowners with health insurance premium payments below 150% of the median income standard.

Youth working (or expected to work) at companies in Naju’s industrial complexes, newlyweds, and multi-child families are given priority eligibility for moving in.

Applications can be submitted by filling out the ‘Employment Youth Rental Housing Support Project’ application form posted on the city hall website’s notices and announcements section starting from the 5th, and submitting it in person to the Planning and Budget Office at city hall.

The city will conduct tenant selection reviews this month and announce the final tenants in early next month, with move-in expected to begin in mid-next month.

Mayor Yoon Byung-tae said, “We fully support the rental housing deposit so that young people and newlyweds from other regions can secure jobs and settle stably in Naju without worrying about housing. We hope this will greatly help not only the housing stability of young workers but also alleviate labor shortages for companies in industrial and agricultural complexes.”

Meanwhile, in addition to fully supporting rental housing deposits, the city has increased the housing cost support for employed youth living in jeonse or monthly rental housing from 100,000 KRW to 200,000 KRW starting this year.

Support for loan interest payments for housing purchases by newlyweds and multi-child families has also been raised from 150,000 KRW to 300,000 KRW per month, expanding and strengthening housing support policies for the younger generation.