Jungnang District Expands Support for Jeonse Deposit Guarantee Premiums

Expanded to All Low-Income Age Groups
Up to 400,000 Won in Support

On May 29, Jungnang District in Seoul announced that it will expand the implementation of its 'Jeonse Deposit Return Guarantee Premium Support Program' to prevent jeonse (rental deposit) fraud and ensure residential stability.

This program provides financial support for the guarantee premiums incurred when subscribing to a jeonse deposit return guarantee. The program, which was previously focused on young people, has now been extended to include all low-income groups regardless of age. The initiative aims to encourage tenants to safely recover their deposits through guarantee insurance.

The exterior view of Jungnang District Office. Provided by Jungnang District Office.

Notably, this year, the application process has been streamlined, allowing tenants to apply for support at the same time as they sign up for the guarantee. The district explained that this improvement reduces inconvenience associated with separate application procedures.

The support is available to tenants without home ownership who are living in properties with a jeonse deposit of 300 million won or less and who have subscribed to a valid return guarantee. The income criteria are an annual income of 50 million won or less for young people (aged 19-39), 60 million won or less for others, and a combined income of 75 million won or less for newlyweds.

After a screening process, selected applicants can receive support of up to 400,000 won for the guarantee premium they paid. Applications can be submitted through the Government24 website, the HUG Secure Jeonse Portal, or by visiting the district office. The program will close early if the budget runs out.

An official from Jungnang District stated, “By expanding the eligibility criteria and simplifying the procedure for the guarantee premium support program, we have enabled more tenants to benefit from the policy,” adding, “We will continue to strengthen support to ensure residential stability for our residents.”

This content was produced with the assistance of AI translation services.