Gochang County to Provide Up to 2 Million Won in Housing Loan Interest Support for Young People and Newlyweds

For Residents of Over Six Months

Supporting Local Settlement

Gochang County in North Jeolla Province is launching a residential support program to ease the financial burden on young people and newlyweds who have incurred debt while purchasing a home or securing a lease. The aim is to lower housing costs, encourage young people to settle in the region, and support marriage and childbirth.

On September 9, Gochang County announced that, through its ‘Loan Interest Support Program for Newlyweds and Youth,’ it will provide partial support for housing loan interest payments to young people and newlyweds who have taken out loans for home purchases or lease deposits.

Eligible applicants are newlyweds and young households who have registered their address in Gochang County and have resided there for more than six months. If they meet the detailed requirements, they can receive support for up to 2% of their outstanding loan balance, with a maximum of 2 million won per household per year for interest payments.

The core of this policy is to directly reduce the financial costs arising from the process of securing housing. At a time when interest rates and housing-related expenses remain high, the county seeks to provide tangible relief in housing costs for young people and newlyweds through loan interest support.

For the younger generation, residential stability is one of the key factors in deciding whether to continue living in the region. Gochang County expects this support program to help reduce outmigration among young people and strengthen the foundation for them to settle locally.

Gochang County has implemented various policies to encourage young people to settle in the region and to respond to population decline. This new loan interest support measure is not simply a form of financial assistance; it is part of a broader residential policy aimed at helping young people establish their life base in Gochang and stay for the long term.

Gochang County Governor Shim Deokseop stated, “For newlyweds and young people, providing a stable residential environment is a crucial foundation for building a future and settling down in the region. We will continue to expand tailored housing welfare policies to reduce housing costs and enable stable settlement.”

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