Monthly rentals are listed on a real estate in Daechi-dong.  (Maekyung DB)
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Support for up to 200,000 won in monthly rent for homeless youth for one year…Apply in August, pay in November

Monthly rentals are listed on a real estate in Daechi-dong. (Maekyung DB)

The government will provide a monthly rent of up to 200,000 won for one year to relieve the housing cost burden of the homeless youth. Applications will be accepted from August and the subsidy will be paid from November.

On April 21, the Ministry of Land, Infrastructure and Transport announced that it had held a ‘meeting for city and provincial youth policy officers’ with the Office of Government Policy Coordination and the Ministry of Health and Welfare and explained to each local government how to implement the youth rent support project. This youth rent support project is a follow-up measure to the ‘Special Measures for Youth Support’ that the Democratic Party and the government discussed in August last year, and was also reflected in this year’s budget.

The target audience is homeless youth aged 19-34 who live separately from their parents, regardless of marital status. If you live in a house with a deposit of 50 million won or less and a monthly rent of 600,000 won or less, a monthly rent of up to 200,000 won is supported. However, even if the monthly rent exceeds 600,000 won, if the total of the monthly rent conversion amount (conversion rate 2.5%) and the monthly rent amount of the deposit is less than 700,000 won, it is eligible for support.

Income conditions must be met by both the young man and his or her family of origin. The household to which the young man belongs must meet the conditions of 60% of the median income (1,166,887 won for one person, 1,951,051 won for two people as of this year) and the property value of 107 million won or less. As of this year, 2 people 3,2685 won, 4 people 5,121,080 won) or less and property value of 380 million won or less are included in the support. However, the Ministry of Land, Infrastructure and Transport decided to check only the income and property of the young person’s own household in the case of young people aged 30 or older or living differently from their parents due to marriage, etc.

In addition, even if the monthly rent receipt period is not continuous, such as moving the residence to the home family during vacations, etc., if it is within the support project period (November 2022 to December 2024), you can receive support for a total of 12 months. However, the payment of subsidies will be suspended for cases such as enlisting in the military, staying in a foreign country for more than 90 days for 6 months, joining the household with parents, or not applying for a change after moving to a different address.

Applicants who meet all of the above criteria will receive a subsidy of up to 200,000 won per month for up to one year within the range of the actual rent paid. In the case of government housing benefit recipients, if the monthly rent subsidy among the actual housing benefits paid is less than 200,000 won, the difference can be paid up to the limit of 200,000 won. However, if you have already received housing cost reduction benefits, such as the monthly rent support project for local governments or moving into a happy house, you will not be eligible for this support.

Applications for support are accepted from the end of August for one year. Applications can be made through the ‘Welfare Road’ website (www.bokjiro.go.kr) or through the app. You can access the website of each local government or apply directly at a Si/Gun/Gu office or Eup/Myeon/Dong administrative welfare center. The government plans to provide subsidies from November to December 2024 after reviewing the income and property of applicants. In addition, a mock calculation service will be provided through the My Home portal, Welfarero, and local government websites from May 2, so it is good to check your income conditions and whether you are eligible for support.

Kim Hong-mok, Director of Housing Welfare Policy at the Ministry of Land, Infrastructure and Transport, said, “The monthly rent support project is the first nationwide monthly rent support, and it is expected that it will help young people prepare for a stable future. I’ll dig it out,” he said.

[신은빈 인턴기자]


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Reference-www.mk.co.kr

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