"Busan City Signs Housing Support Agreement for Independent Youth: Assistance with Deposit Loans, Brokerage Fees, and Living Expenses"

Cooperation among related organizations has begun to address the housing cost issues faced by 'Jalip Cheongnyeon' (self-reliant youth) in the Busan area.

On the morning of the 10th at 10:30 AM, Busan Metropolitan City (Mayor Park Hyungjoon) signed a business agreement for the 'Jalip Cheongnyeon Housing ALL Support' project with Korea Housing Finance Corporation, BNK Busan Bank, and Busan Community Chest of Korea at the City Hall International Protocol Room.

'Jalip Cheongnyeon' refers to young people who have passed five years after the end of their protection period and are preparing for self-reliance.

Busan Mayor Park Hyungjun (third from the left) is signing a business agreement with heads of institutions such as the Korea Housing Finance Corporation, Busan Bank, and Busan Community Chest of Korea at Busan City Hall on the 10th to fully support housing for self-reliant youth.

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The signing ceremony was attended by Mayor Park Hyungjoon, Kim Kyunghwan, President of Korea Housing Finance Corporation, Bang Seongbin, President of BNK Busan Bank, and Lee Sutae, President of Busan Community Chest of Korea, who all signed the agreement.

Until now, the government, local governments, and the private sector have provided various forms of support such as settlement funds and self-reliance allowances to children in child welfare facilities or young people preparing for self-reliance after leaving protection. However, once the five-year self-reliance preparation period ends, all support is terminated, often leaving these youths in a welfare blind spot and facing economic hardship.

'Jalip Cheongnyeon' are young people in their early 20s who, even after the self-reliance preparation period, still desperately need economic and psychological support. They especially feel that housing is their biggest challenge. This agreement was arranged to help them settle into society stably by providing practical assistance with housing costs, which are a significant initial burden.

The 'Jalip Cheongnyeon Housing ALL Support' project, being launched for the first time through this agreement, is a project in which the city, related organizations, and the private sector collaborate to begin supporting the housing problems of Jalip Cheongnyeon.

The project name reflects the intention to provide comprehensive (ALL) and abundant (多) support for everything related to housing, including real estate finance education necessary when searching for a home, housing loans, brokerage fees, living expenses, and the purchase of essential items for self-reliance.

The target recipients are Jalip Cheongnyeon who apply for the city's 'Youth Jeonse Deposit Loan and Interest Support Project (Meomuljariron),' with each individual eligible for up to 3.5 million KRW in support.

▲The city will fully support the deposit loan and interest (3.5%, 12 months) ▲Korea Housing Finance Corporation will support brokerage fees (up to 300,000 KRW) and housing living expenses (100,000 KRW per month, 12 months) ▲Busan Bank will support the purchase of self-reliance items (up to 500,000 KRW) ▲Busan Community Chest of Korea will provide donations and manage project participants, all to ensure that Jalip Cheongnyeon can achieve complete housing independence.

Recruitment is scheduled to begin in May, and for more details and applications, please refer to the Busan Youth Platform.

Mayor Park Hyungjoon said, "I hope this will go beyond simple housing support and become a great help for Jalip Cheongnyeon to engage in stable social activities. I also hope that society as a whole will become a strong pillar for Jalip Cheongnyeon through warm interest and cooperation."

Mayor Park added, "Going forward, we will carefully ensure that not only Jalip Cheongnyeon but also youth from vulnerable groups are not left behind, so that every young person in Busan can be happy and no one is excluded."

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