Hongcheon County to Provide Up to 4.8 Million Won for 151 Young Residents...Interest Support for Newlyweds' Loans Also Offered

First "Youth Owner Allowance" Payment Set for October
Stable Wage Support to Encourage Local Settlement
Up to 3 Million Won Annually for Newlywed Couples

Hongcheon County in Gangwon Province (Governor Shin Young-jae) is launching youth and housing support initiatives to promote long-term employment among young workers and help newlywed couples settle down stably.

A panoramic view of Hongcheon County Office. Provided by Hongcheon County.

On August 11, Hongcheon County announced that it had selected 151 recipients for this year's "Youth Owner Allowance" and will make the first payments in October. The final recipients were determined by screening the 165 applicants from last month based on residency and employment requirements.

The Youth Owner Allowance is a program that pays up to 4.8 million won over two years (200,000 won per month) to young residents of Hongcheon aged 18 to 45 who have worked continuously for at least six months at the same business or who have earned business income within the region. Eligibility is re-verified every three months, and the allowance is credited to the individual's Hongcheon Sarang Card.

The county conducted screenings on the 165 applicants from last month and ultimately selected 151 recipients who met the requirements.

This initiative, introduced in 2023, aims to supplement young people's income, encourage long-term employment, and prevent outmigration from the area. For 2024 and 2025, the county will support a total of 200 recipients, and in 2023, approximately 600 million won was distributed.

A representative from Hongcheon County stated, "We will strive to provide practical assistance to youth and bring hope and vitality to the local community."

Hongcheon County to Provide Up to 3 Million Won in Interest Support for Newlyweds' Jeonse and Monthly Rent Loans

The county will also help relieve newlywed couples' housing cost burdens. For up to two years, households can receive up to 3 million won per year to cover interest payments at up to 3% per annum on jeonse and monthly rent loan balances of up to 100 million won.

Eligible applicants are newlywed couples who registered their marriage within the past seven years and have all household members, including both spouses, registered as residents of Hongcheon County. The combined annual income of both spouses must not exceed 80 million won, and the household must not own a home. Basic livelihood security recipients and those living in public rental housing are excluded from the program.

Applications will be accepted through "Gangwon Benefit-easy," the online welfare service, until August 31.

A Hongcheon County official said, "We will continue to provide substantial support so that young people can work and live stably, putting down roots in the region."

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