BNK Busan Bank Signs Housing Support Agreement for Self-Reliant Youth

Agreement Ceremony Held at Busan City Hall on the 10th with Busan City and Others
Support Provided for Self-Reliant Youth, Including Housing Loan Interest and Self-Reliance Supplies

BNK Busan Bank (President Bang Seongbin) signed a business agreement for the 'Self-Reliant Youth Housing ALL Support' at the International Protocol Room on the 7th floor of Busan City Hall on the morning of the 10th.

BNK Busan Bank signed a business agreement for the 'Self-Reliant Youth Housing All Support' at Busan City Hall on the 10th. (From right: BNK Busan Bank President Sungbin Bang, Busan Mayor Hyungjun Park, Korea Housing Finance Corporation President Kyunghwan Kim, Busan Community Chest of Korea Chairman Sutae Lee) Photo by BNK Busan Bank

Attending the signing ceremony to share the goal of reducing the housing cost burden and supporting the stable social settlement of self-reliant youth were Busan Bank President Bang Seongbin, Busan Mayor Park Hyungjun, Korea Housing Finance Corporation President Kim Kyunghwan, and Busan Community Chest of Korea Chairman Lee Sutae.

Youth preparing for independence must leave childcare facilities or foster homes when they turn 18. Afterward, they can only receive support from the government and local authorities during a limited five-year preparation period, which has led to ongoing cases of difficulties in maintaining independent living.

In response, the organizations in the agreement decided to support self-reliant youth aged 23 to 39, whose preparation period has ended, with items such as lease deposit loan interest, housing living expenses, brokerage fees, and self-reliance supplies (electronic devices).

Separately, since 2017, Busan Bank has been operating the 'Meomuljari Loan,' a youth lease deposit loan interest support project, together with Busan City and Korea Housing Finance Corporation to ease the housing cost burden for young people. As of the end of 2024, the bank has supported loans totaling 91.6 billion KRW for about 1,400 people.

In 2024, Busan Bank also signed the 'Hope Plus Housing Construction Fund Financial Support' agreement to provide construction funds for developers building youth housing, continuing its relentless support for revitalizing the local economy and reducing the housing cost burden for young people.

Busan Bank President Bang Seongbin said, "We will spare no effort to support young people so they can leap forward, dream of a happy future with their loved ones, and help make Busan a beautiful city where everyone can live well," adding, "We will continue to take the lead in projects that address the issues faced by the local community."

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