"Apply for Multi-Child Household Jeonse Loan Interest Support" ... Changwon Special City, Up to 1 Million KRW Provided

From March 14 to March 29
Applications accepted at Eupmyeon-dong Administrative Welfare Centers

Changwon Special City in Gyeongnam Province will recruit eligible recipients for the interest support on jeonse loans for multi-child households without housing from March 14 to March 29.

Changwon Special City Hall, Gyeongnam.
Photo by Se-ryeong Lee

The interest support project for jeonse loans for multi-child households without housing is a program promoted by the city to alleviate the housing burden of multi-child families and contribute to solving the low birthrate issue through financial support. This year, 90 households will be supported with a budget of 90 million KRW.

The eligibility criteria are multi-child households without housing with three or more children aged 18 or younger (born after March 4, 2005), and a household income at or below 180% of the median income. The household must have taken out a jeonse loan from a financial institution and, as of the announcement date, both parents and children must have their registered address in Changwon City, meeting all the above conditions. After verification of eligibility, selected recipients can receive support once a year up to 1.5% of the outstanding jeonse loan balance, with a maximum of 1 million KRW.

However, recipients of basic livelihood security benefits, residents of public rental housing, households that have signed lease contracts with first-degree relatives, and households that have received Changwon City's newlywed couple jeonse loan interest support this year are excluded. Related information is posted on the city’s official website.

An Jemun, Director of the Urban Policy Bureau, said, “We expect this to help support the self-reliance of multi-child households without housing and reduce their housing cost burden,” adding, “We will continue to implement more diverse housing welfare policies to create a stable living environment for raising children.”

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