Gochang-gun Supports 'Mortgage Interest for Newlyweds and Youth Housing'

Published 28 Jun.2024 09:38(KST)

On the 28th, it was announced that the 'Newlywed and Youth Housing Loan Interest Support Project,' one of the key pledges of Shim Deok-seop, the 8th elected mayor of Gochang County, will accept applications in the second half of the year.

This year, the support target has been expanded not only to newlyweds but also to youth. The newlywed period has been extended from 5 years to 7 years, and the number of support applications has increased from 3 years to up to 5 times if there are children.

Gochang-gun Government Office. [Photo by Gochang-gun]

The county has allocated a project budget of 200 million KRW, providing support within 2% of the loan balance per household (up to a maximum of 2 million KRW).

The Gochang County Newlywed and Youth Housing Loan Interest Support Project is significant in that it expanded the effectiveness of the project by supporting loan interest not only for jeonse loans but also for housing purchases.

Eligibility requires newlyweds within 7 years from the date of marriage registration and youth, all of whom must have been registered residents of Gochang County for at least 6 months as of the application date. The combined annual income of the couple must be 80 million KRW or less, and for youth, 40 million KRW or less.

Applications will be accepted from the 1st to the 31st of next month, and applicants must submit related documents and undergo eligibility review at the local town or township office of their jurisdiction.

Detailed information can be found in the announcement section on the Gochang County website.

Mayor Shim Deok-seop said, "I hope this will help newlyweds and youth who are struggling with high housing costs," and added, "We will actively support all possible resources so that a warm and cozy home can be created in Gochang County."

Gochang = Asia Economy Honam Reporting Headquarters, Reporter Kim Jae-gil baekok@asiae.co.kr