INCHEON — News that "a cup of coffee can get you a home" drew crowds of Incheon residents to city hall.
On the first day of applications for Incheon's "1,000-won Housing" jeonse rental program on May 16, long lines formed at the central hall of Incheon City Hall from early morning. Hundreds flocked to apply for 700 units, confirming strong demand for the city's "I-Plus Jipdream" housing policy.
The program offers housing at a flat rate of 1,000 won ($0.70) per day, or 30,000 won per month, aimed at reducing housing costs for newlyweds and families with newborns. With deposits at a fraction of market jeonse rates, word spread quickly among newlyweds in their 20s and 30s before applications even opened.
The 700 units are divided into two categories: 200 units under the "Newlywed/Newborn Type II" and 500 units under the "Jeonse Rental Deundeun Housing Type" for non-apartment housing. Reserve applicants will be selected for each category, with additional reserves chosen within 100% of the supply for each type.
A key draw is the policy allowing residents to choose and contract for homes in their preferred neighborhoods. The ability to maintain existing living areas while benefiting from low rent has led to assessments that the program is "more realistic than lottery-style housing subscriptions." Incheon Mayor Yoo Jeong-bok visited the application site to speak directly with applicants and hear their feedback.
Newlyweds and other eligible applicants can apply in person at Incheon City Hall through May 20 with required documents. Applicants must review the official notice, as income and asset requirements, eligible housing types, and support conditions vary by category, and duplicate applications are not permitted.
Results will be announced on June 4. Following home searches and contract procedures, move-ins could begin as early as July.
"This policy offers both reduced housing costs through affordable rent support and the ability for residents to select their own homes, achieving the dual benefits of easing financial burdens and maintaining living areas," Mayor Yoo said. "We will continue to expand customized housing support policies that provide practical help to citizens and strengthen the foundation for housing stability."
Details on the application process are available on the websites of Incheon City and Incheon Urban Development Corporation.