South Chungcheong Province to cover 30–50% of youth jeonse loan interest

South Chungcheong Province will cover up to 50 percent of jeonse loan interest for young residents, aiming to ease housing costs and help youth secure stable living conditions.

The provincial government announced Wednesday it will accept applications for the 2026 Youth Housing Deposit Interest Subsidy project through the government's Subsidy24 portal from Monday to Oct. 26, with plans to select around 330 recipients.

The program provides partial interest subsidies to young people using jeonse loans from the National Housing and Urban Fund.

Eligible applicants must be between 19 and 39 years old (born between Jan. 1, 1986, and Dec. 31, 2007), hold a registered address in the province as of the application announcement date, own no housing, and be using one of the following loans: the Biteomok jeonse loan (including the youth-exclusive version), the newlywed jeonse loan, or the newborn special Biteomok loan. Applicants using the newborn special Biteomok loan must have a combined household income of no more than 100 million won ($73,600).

Selected recipients will receive a subsidy covering 30 to 50 percent of the loan interest they paid from January of this year onward.

Near-poverty youth and youth preparing for independent living after state care, as well as newlyweds (married within seven years) and youth raising minor children, will receive 50 percent; all other eligible youth will receive 30 percent. Overdue interest is excluded from the subsidy.

Subsidies will be paid once per half-year, for a total of four payments over two years. If a recipient gives birth during the support period, the period may be extended by one year, on a one-time basis.

This year, interest paid over the 11-month period from January through November will be disbursed in a lump sum in December.

Applications are accepted online only through the Subsidy24 section of the Government24 portal, from 9 a.m. Monday to 6 p.m. Oct. 26. Applicants must register an account and complete identity verification.

Regardless of loan type, recipients are selected in the following priority order: near-poverty youth and youth preparing for independent living (first priority), newlyweds and youth raising children (second priority), and all other youth (third priority).

When applicants share the same priority tier, preference goes to residents of population-decline areas designated by the Ministry of Interior and Safety — Gongju, Boryeong, Nonsan, Geumsan, Buyeo, Seocheon, Cheongyang, Yesan and Taean. If a tie remains after that, selection follows the order of final submission time on the Government24 portal.

Results will be announced from 5 p.m. on Nov. 27 through the South Chungcheong Youth Portal notice board and individual notifications, which require consent to receive Government24 alerts.

Han Mi-ra, head of the provincial Youth Policy Division, said the program offers practical support to reduce the burden of jeonse loan interest so young people can worry less about housing and focus on their careers. "We will continue to listen to the voices of young people and push forward the policies they need, so that youth can stay in South Chungcheong and grow here," she said.