Seoul city to spend 850 million U.S. dollars a year to increase housing support for newlyweds
- 4 years ago
Seoul city plans to spend two and a half billion U.S. dollars over three years in housing support for newlyweds.
The funding is set to begin next year, with 850 million dollars to be spent annually.
It's expected to help rougly 25-thousand couples each year for their first seven years of marriage.
The plan includes lowering the standard for financial support so that couples with a combined annual income of under 85-thousand dollars from the previous 68-thousand can apply for low-interest loans.
Other measures include building two-thousand more rental homes each year to 15-thousand.
The city also plans to support couples who have not legally registered their marriage.
The funding is set to begin next year, with 850 million dollars to be spent annually.
It's expected to help rougly 25-thousand couples each year for their first seven years of marriage.
The plan includes lowering the standard for financial support so that couples with a combined annual income of under 85-thousand dollars from the previous 68-thousand can apply for low-interest loans.
Other measures include building two-thousand more rental homes each year to 15-thousand.
The city also plans to support couples who have not legally registered their marriage.