Seosan City to Support Jeonse Loan Interest for Young Newlyweds

Support up to 2.5% of Loan Balance
Maximum 1 Million KRW Per Year

A view of Seosan City Hall in Chungnam. /Photo by Seosan City

On the 3rd, Seosan City in South Chungcheong Province announced that it will implement the "Youth Newlywed Couples Housing Jeonse Loan Interest Support Project" to alleviate the housing cost burden caused by high interest rates.

Eligible applicants must be couples who have registered their marriage within the last five years as of the announcement date, January 9, and at least one spouse must be between the ages of 18 and 39.

The combined median income of the couple must not exceed 180%, and both spouses must be registered residents of Seosan City for at least six months and belong to a household without home ownership.

Supported housing must be located in Seosan City, with a jeonse value of 250 million KRW or less and an exclusive area of 85 square meters or less, including officetels.

If selected, up to 2.5% of the remaining balance of the housing jeonse loan, with a maximum of 1 million KRW per year, will be provided for up to two years.

Households wishing to apply must submit documents such as a marriage certificate, resident registration, lease contract, debt certificate, and health insurance payment confirmation to the administrative welfare center of their local town or district by the 28th.

If there are many applicants, the city plans to select recipients based on criteria such as the number of children, income, applicant's age, length of residence, and disability status.

The support funds will be provided in March after screening, including verification of home ownership status. For more details about the project, refer to the notices and announcements section on the Seosan City website.

Meanwhile, recipients of basic livelihood benefits, residents of public rental housing, and homeowners, including those holding pre-sale rights, are excluded from this support program.

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