Yeosu City Accepts Applications for Youth Monthly Rent Support Program

Up to 200,000 won per month for 24 months,
total support of up to 4.8 million won

Yeosu City, South Jeolla Province, announced that it will accept applications for the Youth Monthly Rent Support Program from March 30 to May 31.

The Youth Monthly Rent Support Program was implemented as a temporary special support project from 2022 to 2024 to ease the housing cost burden for young people. Following the Ministry of Land, Infrastructure and Transport’s decision last year to convert the program to an ongoing project, recipients will now be selected annually starting this year, with each recipient eligible to receive up to 200,000 won per month for 24 months, totaling up to 4.8 million won.

Yeosu City will accept applications for the Youth Monthly Rent Support Program from March 30 to May 31. Provided by Yeosu City

Eligible applicants are young people aged between 19 and 34 years old who do not own a home and live separately from their parents. Applicants must have completed a resident registration transfer and be actually residing in a rental property.

Recipients will be selected based on an income and asset assessment, which includes both the young person’s household and their parents’ household.

The eligibility criteria are as follows: ▲ For the youth household, the standard median income must be 60% or less (for a single-person household, 1.54 million won or less per month), and assets must not exceed 122 million won; ▲ For the original family (including parents), the standard median income must be 100% or less (for a household of three, 5.35 million won or less per month), and assets must not exceed 470 million won.

Applicants can apply online through the Bokjiro website or in person at the local community service center (eup, myeon, or dong) corresponding to their registered address. The selection results will be notified in September, either by mail or text message.

An official from the city stated, "With the transition of the Youth Monthly Rent Support Program to a regular project, we hope that more young people can reduce their housing cost burden and better prepare for their futures, including academics and employment. We encourage many interested youths to apply."

Meanwhile, since 2022, Yeosu City has supported an average of over 320 young people per month with a total of 2.26 billion won in youth monthly rent. The remaining support funds for previous recipients of the temporary special support program will also continue to be paid.

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