South Korea raises youth rent subsidy income cap to ₩2.74 million

  • South Korea will expand monthly rent subsidies and related housing programs for young adults.
  • Beneficiaries are projected to rise from 93,000 this year to 240,000 next year.
  • The Ministry allocated 571,000 of 1.188 million housing units to young adults and newlyweds.

South Korea will substantially expand housing support for young people by raising the monthly income threshold for youth rent subsidies from ₩1.54 million to ₩2.74 million and lowering the minimum eligible age to 18. The Ministry of Land, Infrastructure and Transport said on the 21st that beneficiaries are projected to increase from 93,000 this year to 240,000 next year. The plan also broadens support for jeonse (lump-sum housing deposits), newlywed couples, seniors and low-income households, while allocating 571,000 of 1.188 million housing units to young adults and newlywed couples. Measures include longer support periods, expanded public-housing eligibility after marriage, larger policy loans, new childcare-linked housing, Silver Stay senior housing and broader recognition of maintenance costs in housing benefits.

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South Korea raises youth rent subsidy income cap to ₩2.74 million - CoinPost Terminal