Gangwon Province Begins Third Round of Applications for Housing Loan Interest Support for Newlyweds

Applications Open from September 27 to October 17
Apply Online via "Gangwon Benefit Easy"

Gangwon Special Self-Governing Province (Governor Kim Jin-tae) announced on September 24 that it will begin the third round of recruitment for the “Housing Loan Interest Support Program for Newlyweds” from September 27 to October 17.

A view of Gangwon Provincial Government Office. Provided by Gangwon Provincial Government.

This program is a pledged initiative of the 8th popularly elected administration, running from 2023 to 2027. It was established to ease the housing cost burden for newlyweds who are struggling to repay loan interest due to rapidly rising interest rates and inflation.

So far, 5 billion won has been provided to 1,756 households. This year, the province plans to support a total of 700 households in 18 cities and counties within the province, with a total budget of 1.4 billion won.

During the first and second rounds of recruitment, which were held until September 22, 591 households applied. In this third round, additional recipients will be selected within the remaining project budget. Applications can be submitted through the “Gangwon Benefit Easy” online website.

Eligible applicants must be residents of the province as of the announcement date, and be newlyweds who have registered their marriage within the past seven years, with a combined annual household income of 80 million won or less and no home ownership. Those who have taken out loans for jeonse or monthly rent housing can receive support for up to two years, with a maximum annual interest repayment rate of 3.0%, within a loan balance limit of 100 million won.

Recipients will be selected based on income and number of children. Selected households can receive up to 3 million won per year within the scope of their loan interest repayment amount.

Detailed eligibility criteria and required documents can be found in the announcement on the Gangwon Special Self-Governing Province website.

Kim Sun-ha, Director of Architecture at Gangwon Special Self-Governing Province, said, “We ask for your special attention so that more newlyweds in the province can benefit,” and added, “We will continue to develop and promote customized support services to help newlywed households settle in the province.”

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