Cheonan City Expands Support for Jeonse Deposit Return Guarantee Fees to All Age Groups

Age Limit Abolished and Income Criteria Relaxed Starting This Year

Cheonan City in Chungnam announced on the 22nd that it will expand the 'Jeonse Deposit Return Guarantee Fee Support Project' to all age groups.

In response to the recent nationwide cases of Jeonse deposit non-return, the city will remove the age limit and relax the income criteria starting this year for the support project, which was previously targeted at low-income young adults without housing.

The support targets are tenants without housing residing in Cheonan City who are enrolled in the Jeonse deposit return guarantee institutions: Housing and Urban Guarantee Corporation (HUG), Korea Housing Finance Corporation (HF), and Seoul Guarantee Insurance (SGI), with Jeonse deposits of 300 million KRW or less.

The annual income criteria are 50 million KRW or less for young adults, 60 million KRW or less for others, and 75 million KRW or less for newlyweds.

However, those residing in rental housing owned by registered rental business operators who are legally required to subscribe to rental deposit guarantees, or tenants who are corporations or foreigners (including overseas Koreans), are excluded.

A city official stated, "We hope that this support project will expand the legal protection network against Jeonse fraud not only for young adults and newlyweds but also for low-income people of all ages, contributing to housing stability."

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