Yongin City Supports Jeonse Deposit Return Guarantee Fees for Low-Income Households

For Tenants with Deposits Up to 300 Million KRW... Up to 300,000 KRW
Youth Must Meet Income Criteria of Annual 50 Million KRW or Less

Yongin City in Gyeonggi Province announced on the 5th that it will support the payment of jeonse deposit return guarantee fees up to a maximum of 300,000 won to help stabilize housing for low-income tenants.

The 'Jeonse Deposit Return Guarantee' is a guarantee product provided by the Housing and Urban Guarantee Corporation (HUG), Korea Housing Finance Corporation (HF), Seoul Guarantee Insurance (SGI), etc., which takes responsibility if the landlord fails to return the deposit when the tenant’s jeonse contract ends.

Until now, the government has supported the jeonse deposit return guarantee fees only for youth, but as cases of tenants suffering damages due to jeonse fraud have increased recently, the support target has been expanded and income requirements have been relaxed.

The support target for the guarantee fee is tenants without home ownership who have subscribed to the jeonse deposit return guarantee for housing with a jeonse deposit of 300 million won or less. However, income criteria must be met for each support target. Youth aged 19 to 39 must have an annual income of 50 million won or less, and citizens other than youth must have an annual income of 60 million won or less. Newlyweds who have registered their marriage within 7 years as of the application date are eligible if their annual income is 75 million won or less.

Applicants can check their eligibility and consult about the support target on the 'Gyeonggi Minwon' website or at the comprehensive civil service consultation desk on the first floor of City Hall, then submit an application after confirming qualification requirements. After screening, if selected as a beneficiary, the applicant will be reimbursed all or part of the guarantee fee already paid, up to a limit of 300,000 won.

A city official said, "We will continue to make efforts to stabilize housing for low-income vulnerable groups, including youth."

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