Naju City Recruits Additional Tenants for 'Security Deposit-Free Youth Rental Housing'

Korea’s First Youth Housing Support Policy
Applications for Seven Vacant Units Accepted Until July 8
Only Maintenance Fees Required... Up to Four-Year Residency Possible

Naju City is recruiting additional tenants for its "Security Deposit-Free Youth Rental Housing," a program being implemented for the first time in Korea.

On June 24, Naju City announced that it will accept additional applications for employment youth rental housing until July 8, in an effort to support residential stability for young people with jobs.

This project is Korea's first youth housing support policy that allows young people to live without a separate rental deposit, paying only the maintenance fees. It aims to reduce the initial settlement costs for young people and help them establish themselves in the local community.

Currently, Naju City operates a total of 150 youth rental units at Booyoung Apartments in Songwol-dong and Samyeong-dong. The current recruitment targets 7 vacant units: 3 units at Samyeong Booyoung Apartment and 4 units at Songwol Booyoung Apartment.

Naju City will conduct an additional recruitment of tenants for seven vacant units until July 8. The photo shows a group commemorative picture taken at last year's rental housing unit number lottery and move-in briefing for employed young adults. Provided by Naju City.

Eligible applicants are young people aged between 18 and 45 (born between 1981 and 2008) who, as of the announcement date, reside outside Naju City but are able to move their address to Naju City upon move-in. Applicants must also be employed at, or operate a business in, a company located in Naju City with verifiable income, have a household income at or below 150% of the national median based on health insurance contributions, be without homeownership, and meet other requirements specified in the official announcement.

The basic lease period is two years, and residents may extend their lease once for a maximum stay of four years.

Applicants should check the announcement for the "Employment Youth Rental Housing Support Project" posted on the Naju City website, and submit the application form and relevant documents either by visiting the City Office’s Planning and Budget Office in person or by email.

The city will review the applications and announce the final selected tenants in July, with move-ins scheduled sequentially starting in early August.

Byungtae Yoon, Mayor of Naju City, stated, "Creating a residential environment where young people can live stably and plan for their future is directly linked to the region's sustainable growth. We will continue to expand effective policies that reduce the housing burden for young people and invigorate the local community."

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