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Busan City to Begin Accepting Applications for the Third Quarter Newlywed Couple Housing Loan and Interest Support Program Starting Tomorrow (June 27)

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Busan Metropolitan City (Mayor Park Heong-joon) announced that it will begin accepting applications for the third quarter of 2025 for its “Newlywed Couple Housing Loan and Interest Support Program” from June 27 to July 10.

This program, implemented since 2020, is designed to ease housing cost burdens for newlywed couples without homes and to foster an environment conducive to marriage and childbirth. In the first quarter of 2025 alone, a total of 1,790 households received interest support.

In October 2024, the city revised the eligibility criteria as follows:

• ●The combined annual income ceiling for couples was raised from KRW 80 million to KRW 130 million.

• ●The rental deposit ceiling was increased from KRW 300 million to KRW 400 million.
  These changes aim to broaden participation among dual-income couples and provide them with a wider range of housing options.

Key support details include:

• ●The City will subsidize loan interest up to 2.0% annually, with a maximum annual limit of KRW 4 million, for two years (renewable up to ten years).

• ●BNK Busan Bank will offer rental deposit loans of up to KRW 200 million.

• ●The Korea Housing Finance Corporation will provide guarantees for 100% of the loan amount.

In Q3, the City plans to select and support a total of 400 households (1,500 households in total for 2025). If the number of applicants exceeds the quota, recipients will be chosen through a random lottery.

Eligibility requirements:

• ●Applicants must be newlywed couples (married within the past seven years as of June 27, 2025) or engaged couples planning to marry within three months.

• ●At least one applicant must have resident registration in Busan as of the application start date.

• ●The combined annual income of the couple must be KRW 130 million or less.

• ●Applicants must be renting housing (including apartments and residential officetels) with a deposit of KRW 400 million or less.

• ●A lease agreement with a fixed date must be signed by July 9, 2025.

Exclusions:

• ●Applicants who own a home.

• ●Those who have rental agreements with their parents.

• ●Residents of public rental housing.

• ●Basic livelihood security recipients.

• ●Previous beneficiaries (only one-time participation allowed).

• ●Those receiving similar support under other programs.

Applications must be submitted through the BNK Busan Bank mobile banking app between 9:00 AM on June 27 and 4:00 PM on July 10.

Results of the selection will be announced on July 15 on the Busan City website (www.busan.go.kr/childcare/childcare010106).

For those selected, the loan execution period will be from July 30 to September 30.

Further details about the program can be found in the notices section of the City’s official website (www.busan.go.kr/nbgosi).

Park Seol-yeon, Director General of the Busan City Bureau of Women and Family Affairs, stated, “Easing the housing cost burden for newlyweds is a key step in addressing the low birth rate,” and added, “We hope this program will help newlywed couples in Busan reduce their housing expenses.”