Korea Housing Finance Corporation Supports Housing Stability for Independent Youth

Korea Housing Finance Corporation (President Kim Kyunghwan) will provide support such as housing living expenses to help self-reliant youth in Busan achieve stable housing.

Korea Housing Finance Corporation is signing a business agreement with Busan City, Busan Bank, and Busan Community Chest of Korea to support 'Self-Reliant Youth Housing All Support.' Photo by Korea Housing Finance Corporation

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Self-reliant youth are those whose five-year self-reliance preparation period has ended after leaving protective facilities in accordance with the Child Welfare Act.

Korea Housing Finance Corporation announced on the 10th that it has signed a business agreement for the 'Comprehensive Support for Housing of Self-Reliant Youth' with Busan Metropolitan City, Busan Bank, and Busan Community Chest of Korea.

Through this agreement, the corporation will stably provide jeonse loan guarantees in cooperation with Busan Metropolitan City for self-reliant youth, and will support housing living expenses (100,000 KRW per month for one year) and real estate brokerage fees (up to 300,000 KRW).

In addition, to support safe jeonse transactions for self-reliant youth, the corporation plans to provide counseling on the use of the Jeonse Protection Guarantee and offer online educational content for preventing jeonse fraud through the Busan Youth Platform.

Kim Kyunghwan, President of Korea Housing Finance Corporation, said, "This project is intended to support self-reliant youth in the welfare blind spot by utilizing the core functions and donations of Busan Metropolitan City, Busan Bank, and Busan Community Chest of Korea," and added, "We will continue to support self-reliant youth so they can achieve independence and realize their dreams and hopes without housing insecurity."

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