Incheon Metropolitan City's "1,000-won policy" is resonating with young adults. Eight out of 10 first-quarter recipients of its brokerage fee subsidy program were in their 20s and 30s.
The city said Monday that it provided a total of 50 subsidies worth 12.53 million won under its "1,000-Won Brokerage Fee Support Program" in the first quarter of this year. Young adults accounted for 84% (42 cases) of all recipients. The program is helping ease the upfront costs young people face when relocating to new rental housing.
By housing type, officetels — small studio units typically used as residences — accounted for 15 cases (30%), followed by apartments with 13 cases (26%) and multi-family housing with 12 cases (24%). By district, Bupyeong-gu led with 12 cases (24%), followed by Namdong-gu with 11 cases (22%) and Seo-gu with eight cases (16%).
The program is part of Incheon's "1,000-Won Policy" series. It covers brokerage fees paid by tenants up to a maximum of 300,000 won, minus a 1,000-won copayment. Eligible applicants include young adults aged 18 to 39, newlywed couples married for five years or less, basic livelihood security recipients, near-poverty households, and single-parent families. Applicants must sign a lease of 24 months or longer on a property with a deposit of 100 million won or less.
The city targets 1,000 households this year, and applications are accepted year-round until the budget is exhausted. Details are available on the Incheon Metropolitan City website or the Incheon Youth Portal.