Seoul's Eunpyeong-gu said it is accepting applications through July 31 for new residents at units 1 and 2 of its "Young Entrepreneurs' Housing" program, aimed at easing the housing burden on young startup founders and helping them focus on building their businesses.
The Young Entrepreneurs' Housing program provides public rental housing designed to let young entrepreneurs concentrate on their startups without worrying about housing costs. It offers rental deposits and monthly rent below market price to reduce the financial strain on early-stage founders and help them establish a stable base for their ventures.
This round of recruitment covers a total of 5 units across the two locations in Sinsa-dong, Eunpyeong-gu. The interiors will be open for preview from Tuesday, July 22, through Thursday, July 24, and selected residents may stay for up to 10 years.
Applicants must meet all three criteria as of Monday, July 13, the announcement date: they must be Seoul residents between the ages of 19 and 39 with no home ownership and living in a household of three or fewer people; their household income must be at or below 70 percent of the previous year's average monthly urban worker income; and they must be a solo (prospective) creative entrepreneur or (prospective) young startup founder.
Interested applicants can download the application form from the notices and announcements section of the Eunpyeong-gu Office website and submit it by email no later than 6 p.m. on July 31.
District Mayor Kim Mi-kyung said she hopes the Young Entrepreneurs' Housing program will serve as a reliable support system that lets young founders worry less about housing and focus more on their businesses. "We will continue to actively pursue a range of youth support policies so that young people can settle and grow in Eunpyeong-gu," she said.
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