Financial Support for Rent and Loan Interest Available to Households with Newborns

Here is our second piece of useful news.

Many of you likely feel that the burden of jeonse (lump-sum housing lease) deposits and monthly rent has increased significantly these days.

If you are a household that has recently given birth, you may be eligible for housing cost support.

Here are the details.

This program is being conducted by the Seoul Metropolitan Government.

Eligible households can receive support for jeonse loan interest or monthly rent, up to 300,000 KRW per month for two years, totaling a maximum of 7.2 million KRW.

Let us look at the eligibility criteria.

The program is for households with newborns that do not own a home and reside in Seoul.

Applications must be submitted within one year of the birth.

Starting this year, the eligibility criteria have been relaxed.

Households with a jeonse deposit of 500 million KRW or less, or monthly rent (including the converted deposit amount) of 2.29 million KRW or less, are eligible to apply.

Applications can be submitted until December 31 through the Seoul "Tan-saeng Yuk-a Mong-ttang" (Birth and Childcare Information) website.
※ Please note: This article was translated by AI and may contain errors.