Seoul City to Provide Up to 7.2 Million Won in Housing Support for Households Without Homes After Childbirth

Seoul City will implement a program that provides housing support of up to 7.2 million won for households without homes who give birth to a child over a period of two years.

On the 15th, Seoul City announced that it will officially launch the 'Housing Support Program for Households Without Homes After Childbirth' starting from the 20th. This initiative is part of the 'Birth Encouragement Seoul Project' aimed at overcoming the crisis of low birth rates.

The core of this support measure is to subsidize the housing cost difference for households residing in Seoul, enabling them to remain in the city after childbirth.

The payments will be made in advance and post-payment, in installments of up to 300,000 won per month, divided over four periods of six months each. This means that households can reduce their housing cost burden by up to 7.2 million won over two years.

Support Eligibility and Conditions

Eligible participants are households without homes that gave birth this year, with an income level of 180% or below the median income, residing in rented housing with a jeonse (deposit) of 300 million won or below, or a monthly rent of 1.3 million won or below.

For semi-jeonse or monthly rental households, the combined value of the monthly rental equivalent of the jeonse deposit and the monthly rent must be below 1.3 million won to qualify.

The monthly conversion rate for jeonse is set at 5.5% and is applied monthly. For instance, if the jeonse amount is 150 million won, the monthly equivalent amount would be 600,000 won.

The housing support can generally be received for a maximum of two years. In cases of multiple births or additional childbirths during the support period, an extension of 1 to 2 years is possible, allowing for support of up to 4 years.

If a family has another child after the support period ends, an additional year will be granted per newborn, with one year for twins and two years for triplets or more.

To receive the benefits, households must maintain the 'homeless' condition during the support period. If they purchase a house or move outside Seoul, the support will be terminated.

However, if a family wins a housing subscription and acquires a pre-sale right during the support period, it will still be considered as maintaining the homeless condition until actual occupancy. Additionally, residents of public rental housing by SH or LH are excluded from this support.

Seoul City plans to recruit 1,380 recipients this year and 2,700 annually from next year.

Kim Seon-soon from Seoul City's Gender and Family Affairs Division stated, "We have prepared policies to ensure that newlywed couples living in Seoul can raise their children without worrying about housing costs or moving after childbirth, enabling stable living."

Meanwhile, this recruitment will target households that gave birth in the first half of the year, and applications will be accepted from 9 am on the 20th via the ‘Montdang Information Universal Key’ website. Seoul City plans to verify eligibility, submit certificates, and disburse six months’ worth of benefits in December after an evaluation process from August to November.

Image source: Seoul City, material photo for understanding the article / gettyimagesbank