Goheung-gun, Apply for Low-Income Youth Monthly Rent Support

Published 27 Feb.2024 12:35(KST)

Economic and Employment Anxiety Relief, Monthly Support of 200,000 Won Each

Goheung-gun, Jeollanam-do (Governor Gong Young-min) announced that it will promote the "2nd Phase of Temporary Special Support for Youth Monthly Rent" to alleviate the housing cost burden for low-income youth.

The Temporary Special Support for Youth Monthly Rent is a government-initiated project aimed at resolving the economic and employment instability faced by young people, providing monthly rent support of up to 200,000 KRW for 12 months.

[Image provided by Goheung-gun]

The support targets low-income youth aged 19 to 34 who live independently from their parents, reside in housing with a deposit of 50 million KRW or less and monthly rent of 700,000 KRW or less, and are subscription savings account holders.

The application period is one year, from February 26, 2024, to February 25, 2025. The payment period is from March 2024 to December 2026.

The eligibility criteria require that the income of the household to which the youth belongs must be 60% or less of the median income, and the property value must be 122 million KRW or less.

Additionally, the original family, including the parents, must meet both conditions of having an income at or below 100% of the median income and a property value of 470 million KRW or less to qualify for support. The final recipients will be determined after reviewing income and property assessments.

However, for youth aged 30 or older or those living separately from their parents due to marriage or other reasons, the income and property of only the youth’s own household will be applied, following the scope of independent household recognition under the Basic Livelihood Security System.

A Goheung-gun official stated, "We hope that the Temporary Special Support for Youth Monthly Rent will provide economic stability and strength to young people facing financial difficulties," and added, "We will continue to explore and consider various projects and support measures to help youth establish stable housing."