Cheonan Expands Jeonse Deposit Return Guarantee Fee Support to All Age Groups

Annual Income Criteria: 50 Million Won for Youth, 75 Million Won for Newlyweds, 60 Million Won for Others

Cheonan City, Chungnam Province, will expand the 'Jeonse Deposit Return Guarantee Fee Support Project' to all age groups.

Cheonan City in Chungnam Province announced on the 25th that it will expand the 'Jeonse Deposit Return Guarantee Fee Support Program' to all age groups.

This program supports up to 300,000 KRW of the guarantee fee paid by subscribers of the Jeonse Deposit Return Guarantee product to prevent Jeonse fraud. Previously, the program was only available to young people.

However, as cases of unpaid Jeonse deposits have recently surged nationwide, the city decided to expand support not only to young people without homes but also to low-income individuals of all ages.

Eligible applicants must be tenants without home ownership residing in the city, be enrolled in a Jeonse deposit return guarantee institution such as the Housing and Urban Guarantee Corporation (HUG), Korea Housing Finance Corporation (HF), or Seoul Guarantee Insurance (SGI), and have a Jeonse deposit of 300 million KRW or less.

Young people with an annual income of 50 million KRW or less, those in other age groups with an annual income of 60 million KRW or less, and newlyweds with an annual income of 75 million KRW or less are eligible for support.

However, those living in rental housing provided by registered landlords who are legally required to enroll in a rental deposit guarantee, as well as tenants who are corporations or foreigners, are excluded.

A city official said, "We hope that this support program will help expand the legal safety net against Jeonse fraud for not only young people and newlyweds but also low-income individuals of all ages, contributing to greater housing stability."

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