Incheon has announced that, through its ‘Housing Lease Brokerage Fee Support Program’ aimed at easing the housing cost burden on young adults and newlyweds, it provided 92 million won to 381 households as of the end of September this year. With the autumn moving season underway, households that sign a lease of at least 24 months on a home with a deposit of 100 million won or less can be reimbursed up to 300,000 won of the brokerage fees they actually paid.
 [코리안투데이] Information on Incheon’s housing lease brokerage fee support program for young adults and newlyweds © 장형임 기자 |
The ‘Housing Lease Brokerage Fee Support Program’ being carried out by the Incheon Metropolitan Government (Mayor Park Chan-dae) is providing tangible help to young adults and newlyweds struggling with housing costs as the autumn moving season arrives.
According to the city, 381 households received a combined 92 million won in brokerage fee support through the program as of the end of September this year. By beneficiary group, young adults aged 18 to 39 accounted for the largest share, with 325 cases, or 85 percent of all support provided. This illustrates just how heavy the housing cost burden is for young people taking their first steps into society.
By district, Bupyeong-gu recorded the most cases with 79 (21 percent), followed by Namdong-gu with 75 (20 percent) and Seohae-gu with 67 (18 percent), reflecting active applications in areas densely populated by young adults and lower-income residents. By housing type, multi-household homes were the most common at 99 cases (26 percent), followed by apartments with 92 cases (24 percent) and officetels with 72 cases (19 percent).
The program is open to homeless tenants who reside in or are relocating to Incheon and fall into one of the following categories: young adults aged 18 to 39, newlyweds married within the past five years, recipients of the National Basic Livelihood Security, the near-poor class, and single-parent families. This year, households that have signed a lease of at least 24 months on a home with a deposit of 100 million won or less can be reimbursed up to 300,000 won of the brokerage fees they actually paid.
The measure relieves young adults and ordinary residents, who frequently move between jeonse and monthly rentals, of transaction costs that often go unnoticed, and the effect is felt most keenly by groups that move most often. Detailed eligibility requirements and application methods can be found on the Incheon city website and the Incheon Youth Portal. However, applications may close early once the budget is exhausted, so eligible residents are advised to apply promptly.
Lee Won-ju, director general of the city’s Urban Planning Bureau, said, ‘As the autumn moving season arrives, we will do our utmost to support young adults and newlyweds facing housing cost burdens so that more of them can enjoy these benefits.’
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