Seocho-gu Supports Newlywed Couples and Youth with Jeonse and Monthly Rent Deposit Loan Interest... Up to 3 Million KRW

Support Within 2% of Loan Balance 'Maximum Amount by Autonomous District'
76 Households Selected, Applications Accepted Until the 8th of Next Month

Seocho-gu, Seoul (Mayor Jeon Seong-su) is recruiting applicants for the rental deposit loan interest support project to enhance housing stability for newlyweds and young people until the 8th of next month.

The district plans to support up to KRW 3 million annually for newlyweds and up to KRW 1 million annually for young people within 2% of the outstanding loan balance to reduce the interest burden on loans taken out to prepare rental deposits. Applications will be accepted starting from the 21st of this month.

Previously, the district supported 30 households through the first recruitment and screening on July 1st. In this second recruitment, the scale of support will be expanded to support 36 newlywed households and 40 young households. Considering that Seocho-gu is one of the highest housing cost areas nationwide, the support amount is also the highest among Seoul’s autonomous districts.

Applicants must be newlyweds or young people who meet the specified support conditions as of the announcement date, the 21st of this month. Newlyweds must be couples who have either registered their marriage or are within 7 years of their marriage registration as of the announcement date, both spouses must be non-homeowners registered as residents of Seocho-gu, and the applicant (or spouse) must have signed a lease contract for a residential house or residential officetel (exclusive or contract area of 85㎡ or less or deposit of KRW 700 million or less). The combined annual income of the couple must be KRW 120 million or less.

For young people, applicants must be non-homeowners aged between 19 and 39, registered as residents of Seocho-gu, have signed a lease contract for a residential house or residential officetel (exclusive or contract area of 60㎡ or less or deposit of KRW 300 million or less), and have an annual income of KRW 60 million or less.

After the application period, the district will verify supporting documents and review eligibility, then decide and notify the selected applicants and support amounts in December. If applications exceed the available number of recipients, priority will be determined based on a scoring table, and the support amount for newlyweds will be differentiated according to income level and number of children. Support is available once a year for up to three years, but since eligibility is reviewed annually, households selected this year must reapply and be selected again the following year to continue receiving support.

Newlyweds and young people who wish to apply can check detailed information on the Seocho-gu Office website. Applicants should prepare the required documents and submit their applications in person or by mail to the Joint Housing Management Division of Seocho-gu Office within the application period.

Mayor Jeon Seong-su said, “Through this support project, we will create a stable housing environment for newlyweds and young people and continuously promote citizen-centered policies that encourage marriage and childbirth.”

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