LH supply 3,000 rental housing units to low-income or multi-children households

The Korean government is implementing various housing welfare policies to ensure housing stability for low-income people.

Korea Land and Housing Corporation (LH), the agency that enforces housing policies in Korea, has started recruiting occupants for a total of 3,000 rental houses for low-income households with multiple children.

Jeonse rental housing is a system in which the LH enters into a jeonse contract with the homeowner and leases it back to the tenants at a low price after the selected person finds a house they want to live in.

As of the announcement date (May 2), homeless households raising two or more minors can apply if they fall under one of the first-priority qualifications: recipients, lower-class families, and single-parent families. Multicultural families can also apply if they meet these criteria.

Particularly, starting with this announcement of the recruitment of residents, regardless of the area in which you currently reside, you can freely select and apply for the desired area within the nationwide project target area (the entire capital area, cities with a population of 80,000 or more).

The maximum amount of support for the jeonse deposit based on two children is ▲135 million won in the capital area ▲100 million won in metropolitan cities, and ▲85 million won in other areas. For households with more than two children, an additional 20 million is provided for each extra child. Tenants pay about 2% of the Jeonse aid as a rental security deposit, and pay the monthly rent by applying an interest rate of 1-2% per annum to the amount deducted. Interest rates are reduced by up to 0.5 percentage points depending on the number of minors, and 0.2 percentage points additional preferential rates are applied to those receiving livelihood and medical benefits.

The basic rental period is 2 years, and the contract can be renewed up to 9 times, allowing for a maximum of 20 years. However, when renewing the contract, the qualifications, etc. must be met. The application period is from May 9th to 20th. You can apply only online through the LH Subscription Center (apply.lh.or.kr). The results of the selection of occupants will be announced at the end of June by regional headquarters. For other details, refer to the notice posted on the LH subscription center or contact the LH jeonse rental call center (1670-0002).

Reporter Jieun Lee