Gyeonggi-do Supports Up to 30 Million KRW for Rental Deposit of Workers in Pangyo... Interest-Free for 4 Years

Gyeonggi Province will provide up to 30 million KRW in rental deposit support to stabilize housing and improve working conditions for young employees working in Pangyo Techno Valley.

The Gyeonggi Economic Science Promotion Agency announced on the 19th that it will promote the '2025 Pangyo Techno Valley Tenant Company Rental Deposit Support Project,' which offers interest-free rental deposit support of up to 30 million KRW for up to 4 years to improve the housing environment for young workers in Pangyo.

The support targets employees aged 39 or younger without home ownership who are working at small and medium-sized or mid-sized companies located within the 1st and 2nd Pangyo Techno Valley and are tenants residing in houses, apartments, or officetels within the province.

Gyeonggi Province plans to provide more opportunities to young people by applying preferential conditions considering short-distance relocation based on Pangyo Techno Valley (Seongnam City) standards and gender equality.

However, those residing in public rental housing are excluded from support as they have already received financial assistance from the national or local governments due to the nature of their housing type.

Gyeonggi-do's 'Pangyo Technovalley Tenant Company Lease Deposit Support Project' Information Poster

The support amount is up to 30 million KRW per person, with a maximum of 10 people supported per company. The support period is basically 2 years but can be extended once, allowing interest-free support for up to 4 years.

The rental deposit supported by the tenant companies must be returned to the Gyeonggi Economic Science Promotion Agency upon the expiration of the agreement, and the entire insurance premium for the performance guarantee insurance policy is covered, so there is no burden on the company or individual.

Since 2016, the agency has supported rental deposits for a total of 360 people from 136 companies, and last year, 31 employees from 17 tenant companies in Pangyo Techno Valley received support.

Jung Han-gyu, Director of the Advanced Mobility Industry Division of Gyeonggi Province, said, "Through this rental deposit support project, workers in Pangyo will be able to reduce housing costs and save commuting time, enabling them to work more efficiently," adding, "We will continue to provide various support to ensure stable working environments for tenant companies in Pangyo Techno Valley and to attract outstanding young talent."

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