Feb 24 • 01:24 UTC 🇰🇷 Korea Hankyoreh (KR)

Paju City Secures 100 Homes for Newlyweds and New Families through 'Jeonse Lease'

Paju City has secured 100 units under the government's 'Jeonse Lease' program for newlywed and new families, marking the first of its kind in a basic local government in Gyeonggi Province and the largest nationwide, excluding metropolitan governments.

Paju City has successfully secured 100 units for the 'Jeonse Lease' program targeting newlywed couples and families with newborns, a move initiated by the Ministry of Land, Infrastructure and Transport. This initiative is significant as it is the first of its kind among basic local governments in Gyeonggi Province and holds the status of the largest project across South Korea, excluding metropolitan areas. The program is designed to utilize existing privately-owned rental properties rather than building new ones, reducing initial housing costs while allowing families to stay within their current community.

The Jeonse Lease program offers substantial financial support for eligible applicants, who can apply for low-interest loans from the Housing and Urban Fund at an annual rate of 2.2%, providing them with up to 192 million KRW for their Jeonse deposit. The program also includes additional aid, subsidizing monthly interest payments to a maximum of around 350,000 KRW, making it accessible for renting properties worth up to 600 million KRW. Eligible parties for this initiative include newlywed couples and families with newborns whose monthly income meets certain thresholds, ensuring that assistance reaches those who need it most.

Paju City's approach aligns with its policy goal of creating a 'basic society' and demonstrates an integrated housing strategy. This plan, branded as the 'Paju-type Basic Housing (Rental Type)' model, not only diversifies public housing supply channels by involving both direct housing provision and support for existing rentals but also aims to lower the housing burden for citizens. By reducing housing costs for newlyweds and families in the initial stages of raising children, Paju City hopes to encourage these groups to settle in the area. Looking forward, the city is open to expanding the program based on its performance outcomes after the initial rollout is completed in the first half of 2026.

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