It seems that the burden of housing costs for young people with low incomes will decrease slightly in the future.
The Ministry of Land, Infrastructure and Transport announced that the 'Special Support for Young People's Monthly Rent' project, which provides support for a monthly rent of 200,000 won per month for one year, will be implemented from August.
Eligible recipients are homeless youth aged 19-34 who live apart from their parents, and their monthly income must be 60% or less of the median income, or 1.16 million won or less, and the income of a single household including parents must be 100% or less of the median income.
If you meet these income requirements and live in a house with a deposit of 50 million won or less and a monthly rent of 600,000 won or less, you can receive a monthly rent of up to 200,000 won.
However, even if the monthly rent exceeds 600,000 won, you can receive support if the total of the monthly rent conversion amount of the deposit and the monthly rent is less than 700,000 won.
The full application period is from August, but from the 2nd of the following month, a mock calculation service will be operated to check whether you will be able to receive support.
You can check it through the My Home portal, Welfare Road, and the local government website.