Yongin in Gyeonggi said on the 8th it will provide up to 1 million won in loan interest support for young people buying their first dwellings.
Those eligible are young people ages 18 to 39 who purchased their first dwellings located in Yongin on or after Jan. 1, 2024. The dwellings must be priced at 600 million won or less with an exclusive area of 85㎡ or less. They also must meet the requirement of household combined median income at or below 180%. As of the announcement date, they must have completed loan execution for the dwelling purchase funds, payment of the remaining balance on the sale, acquisition of ownership, and moving-in registration.
Applications can be submitted on the online portal Jobaba Apply from the 17th to the 23rd of this month.
Yongin plans to select eligible recipients and support loan interest within the total project budget of 100 million won. If the number of applicants exceeds the budget, socially vulnerable groups such as young people preparing for independence, people with disabilities, and single-parent families will be prioritized.
In addition, applicants will be reviewed based on housing & urban fund loans, newlyweds, number of children, exclusive area, dwellings price, and continuous length of residence in Yongin to finalize the recipients.
A Yongin official said, "As purchasing dwellings places a heavy burden on young people, we provide annual interest support to ease the initial financial load," adding, "We will continue to implement systematic youth housing support policies so young people can settle in Yongin stably."
Yongin has been steadily expanding policies to help stabilize youth housing step by step. Following the "youth jeon/monthly rent deposit loan interest support program," implemented since 2024, the city has been running the "first-time dwellings purchase loan interest support program" since last year.