The Seoul Metropolitan Government (SMG) is relaxing the income criteria for its young resident rent assistance program after having expanded the program’s scope to provide KRW 200,000 for up to ten months to young one-person households by more than five times compared to last year. The changed criteria will apply starting in the second half of this year.
The SMG will make it more accessible for young residents to apply for the program by lowering the income criteria from 120% or less of the median income (monthly income of KRW 2.19 million) to 150% or less (monthly income of KRW 2.74 million).
The SMG decided to apply the relaxed income criterion through consultation on the social security change with the Ministry of Health and Welfare by reflecting continuous requests of young residents and experts about the necessity to rationalize the rent assistance program’s income criteria.
The changed criteria are expected to expand opportunities for young working residents, such as part-time workers, first-time employees working at SMEs, and workers whose wage has temporarily increased through nightshift, who have not been receiving benefits of the program due to the income criteria.
The SMG will select a total of 22,000 beneficiaries in the second half of the year. Applications are received online via the SMG’s housing website (https://housing.seoul.go.kr/) from August 10 to 19.