Kakao Pay Signs MOU with Korea Habitat to Support Housing-Vulnerable Youth

Creation of a 500 Million KRW Fund...
Home Repairs for Over 10 Young Rental Fraud Victim Households Supported

Kakao Pay announced on the 20th that it has signed a business agreement with Habitat for Humanity Korea for the 'Youth Housing Vulnerable Group Support Project.' The project will provide support for recovery from and prevention of rental fraud targeting young people.

Shin Won-geun, CEO of Kakao Pay (left), and Yoon Hyung-joo, Chairman of Korea Habitat, are posing for a commemorative photo after signing a business agreement for the "Youth Housing Vulnerable Group Support Project" at the Kakao Pay Pangyo Office in Seongnam-si, Gyeonggi-do. Photo by Kakao Pay

The agreement ceremony was held at the Kakao Pay office in Seongnam-si, Gyeonggi-do. Shin Won-geun, CEO of Kakao Pay, and Yoon Hyung-joo, Chairman of Habitat for Humanity Korea, attended the ceremony.

They agreed to promote a public interest campaign focusing on the 2030 generation, which accounts for more than 70% of rental fraud victims, including support projects for recovery of households affected by rental fraud and production of prevention content.

Kakao Pay will establish a fund of 500 million KRW for Habitat for Humanity Korea’s youth housing vulnerable group support project. As the main sponsor of the support project, Kakao Pay will jointly promote support and prevention campaigns for young victims of rental fraud.

Programs will be operated to promote the youth housing vulnerable group support project and to produce preventive informational content for safe rental contracts.

Habitat for Humanity Korea will use the fund to run campaigns and carry out housing repair work for about 10 young people to secure their rental deposits after rental fraud.

Chairman Yoon said, "Since launching the youth support campaign for rental fraud victims last year, a social consensus on the need for recovery support has been formed," adding, "We will continue to provide practical support so that young people can live in safe housing environments."

CEO Shin said, "We are participating in the support project so that young people can enjoy safer housing environments," and added, "We will continue to provide various financial services to help everyone secure housing conveniently and safely, and carry on mutual growth activities for housing stability."

Kakao Pay stated that, in line with the group’s mutual growth slogan 'Closer, Kakao,' it has expanded mutual growth activities with small business owners, digitally financially marginalized groups, and local communities. It also conducts youth support projects annually. Last year, it ran the 'TokTok' project, which supported communication expenses for vulnerable youth groups.

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