Geochang-gun Supports Interest on Jeonse Loans for Youth Housing in the Second Half of the Year

by Choi Sungkyung

Published 01 Sep.2021 21:12(KST)

Updated 11 Aug.2025 11:55(KST)

Applications accepted by the Population Education Department from the 6th to the 17th

Geochang County Office building exterior view

[Asia Economy Yeongnam Reporting Headquarters Reporter Choi Soon-kyung] Geochang-gun, Gyeongnam Province, will accept applications for the "2021 Second Half Youth Housing Jeonse Loan Interest Support Project" for 12 days from the 6th to the 17th.

This project is implemented to alleviate the housing cost burden for young people, provide stable residential conditions, improve the quality of life for youth, and address population issues.

Eligibility requires applicants to be youth aged between 19 and 45 who have resided in the county for more than three months as of the announcement date (September 1, 2021), with both the applicant and household members being non-homeowners, having a standard median income of 180% or less, and the housing jeonse loan amount must be 100 million KRW or less.

Eligible applicants include newlyweds or families with children who registered their marriage between September 1, 2016, and September 1, 2021, and households renting jeonse who moved into the county from other cities, counties, or districts between June 1, 2016, and June 1, 2021.

The support amount is paid within 1.5% of the outstanding housing jeonse loan balance, with differential payments depending on the loan interest payment expiration period in 2021. The maximum support amounts by category are 1.5 million KRW for families with children, 1 million KRW for newlyweds, and 500,000 KRW for relocating households, with support provided for up to three years (once per year).

To apply, applicants must visit the county Population Education Division with documents verifying the housing jeonse loan, such as a copy of the lease contract or jeonse right registration confirmation, financial transaction confirmation, 2021 health and long-term care insurance payment confirmation, health insurance qualification certificate, local tax itemized tax certificate, a copy of the bankbook, and identification card.

Gu In-mo, the mayor of Geochang-gun, stated, "This project is one of the efforts to create better residential conditions for youth, and I hope the housing mortgage loan interest support project will help ease the housing cost burden for young people even a little."