The Korea Land and Housing Corporation (LH) announced on the 26th that it provided housing support to 8,031 youths preparing for independence through the 'Youth+Start program.'
The 'Youth+Start program' by LH is a comprehensive support measure that goes beyond housing support to help youths preparing for independence settle stably in society and lead their lives independently.
Since 2019 until the end of last year, LH supplied rental housing to 8,031 youths preparing for independence. Considering that the average annual number of youths preparing for independence leaving child protection facilities is about 1,700, this means that 7 out of 10 youths preparing for independence have moved into LH rental housing.
To assist youths preparing for independence who find it difficult to secure a lump sum, LH provides rental deposits of 1 million won for all types of rental housing, including purchase rental, construction rental, and jeonse rental. In particular, for jeonse rental housing, which has the highest utilization rate among public rental types, residents can live rent-free until the age of 22. The rental period can also last up to a maximum of 30 years (with 14 possible renewals).
As part of the Youth+Start program, LH operates various settlement support projects in collaboration with several private companies. ▲ A 'Subscription Savings Enrollment & Payment Support Project' that supports the first subscription savings of youths preparing for independence in partnership with Woori Bank and the Korea Red Cross ▲ A 'Together Standing Support Project' with Citibank Korea and Save the Children, providing small appliances and housing and financial living education for youths preparing for independence ▲ A project supporting 200 youths preparing for independence with LH rental housing rental deposits (1 million won) in collaboration with the Korea Securities Finance Corporation Dream Tree Foundation.
In addition, LH is also operating a 'Youth+Start Dedicated Counseling Center' for youths preparing for independence. Considering their desired residence areas, employment plans, and income, it provides a one-stop service from housing search to application document preparation and contract signing. The average monthly number of counseling cases reaches over 200.
Deputy Director of the Housing Welfare Headquarters, Yoo Byeong-yong, noted, 'I hope that the LH Youth+Start program will serve as a strong guardian and guide for youths preparing for independence as they take their first steps into society after leaving facilities,' and added, 'In the future, we will continue to provide customized housing and living support programs that are essential for youths preparing for independence in collaboration with various institutions.'