Applications open Oct. 22–Nov. 18; 5 households to be selected; up to W2m annually
Paju is accepting additional applications for its youth jeonse and monthly rent loan interest support project from Thursday through Nov. 18 to ease housing costs for young households.
The project is open to young residents aged 19 to 39 who are registered in Paju, do not own a home, and have taken out a jeonse or monthly rent deposit loan from a first-tier financial institution. Those selected will receive partial support for their loan interest payments.
Support covers up to 2 million won ($1,510) per year, calculated within 2 percent of the outstanding loan balance. In this additional recruitment round, the city will select five households and pay up to 1 million won per household in two installments every six months.
Applicants must have been born between Oct. 21, 1986, and Oct. 20, 2007. Eligibility requirements are: all household members must be non-homeowners as of the announcement date; household income must be at or below 180 percent of the median income standard (4.616 million won for a single-person household); the jeonse deposit for a Paju property must not exceed 300 million won, or for monthly rent, the jeonse-to-monthly-rent conversion rate must be 6.7 percent or below; and the exclusive use area of the unit must be 85 square meters or less.
However, recipients of basic livelihood security benefits (livelihood, medical or residential allowances), residents of public rental housing, those who obtained jeonse financing through the Housing and Urban Fund — such as the Buttimok loan — and those whose bank loans are classified as credit or general-purpose funds are excluded from eligibility.
Applicants must create an account on Jobava Apply, the integrated application system of the Gyeonggi Province Jobs Foundation, and submit their application through the platform.
For more information, visit the project's website or the notice and announcement board on the Paju city government website, or contact the Youth Support Team under the city's Youth and Adolescent Division.
pjh@heraldcorp.com
