Incheon Metropolitan City (인천광역시, Mayor Park Chan-dae (박찬대)) announced it is recruiting new applicants for its ‘1.0 Interest Rate Support Program’ (1.0 이자지원 사업), which subsidizes mortgage interest for newborn households with children born in 2025 or later, in response to low birth rates and population decline, and to ease the housing cost burden on newborn households. A total of 1,500 households will be supported, with each household eligible for up to 3 million won annually.
 [코리안투데이] Incheon City Opens New Applications for Newborn Household Interest Rate Support © 김현수 기자 |
For households with children born in 2025 or later… 1,500 households to be selected
On July 16, Incheon City announced the recruitment notice for the ‘2026 1.0 Interest Rate Support Program (New Applicants)’ (2026년 1.0 이자지원 사업(신규신청자)), moving forward with support aimed at easing housing cost burdens and fostering a stable childcare environment.
The program subsidizes up to 1% of the outstanding mortgage balance for newborn households with children born between January 2025 and June 2026. A total of 1,500 households are eligible, with each household able to receive up to 3 million won annually.
Online applications open July 27… income and housing requirements must be verified
Applications will be accepted from July 27 to August 31, and can be submitted online through the Incheon Housing Portal (인천주거포털). Applicants should check eligibility requirements and required documents before applying, with details available on the Incheon City website and the Incheon Housing Portal.
Eligibility requires combined household income of 130 million won or less, a home located in Incheon with an exclusive area of 85㎡ or less and an actual transaction price of 600 million won or less, ownership of only one home per household (multiple homeowners excluded), and both spouses and children being registered residents actually living at the home as of the announcement date. If applications exceed 1,500 households, selection will be made in order of highest score based on scoring criteria.
Mayor: “Hope this provides real help with housing cost burdens”
Mayor Park Chan-dae (박찬대) said, “With newborn households facing a growing housing cost burden amid high loan interest rates and rising prices, I hope this 1.0 Interest Rate Support Program (1.0 이자지원 사업) provides real help,” adding, “We will continue to expand housing support policies that citizens can genuinely feel the benefit of, to make Incheon a great place to raise children.”
[ Reporter Kim Hyun-soo ] incheoneast@thekoreantoday.com
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