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Busan Metropolitan City to Provide Moving Expenses of up to KRW 400,000 for Young People — Applications Open from August 26

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Busan Metropolitan City (Mayor Park Heong-joon) announced that it will start accepting applications for the “2025 Busan Youth Brokerage Fee and Moving Expense Support Program” from August 26, selecting 310 beneficiaries to help ease the housing burden of young people, who often relocate due to employment, and to support their stable settlement in Busan.
○ This program provides a one-time support of up to KRW 400,000 for real estate brokerage fees and actual moving expenses, such as cargo trucks and moving services, incurred when young people newly move to or relocate within Busan.
* Delivery fees, cleaning costs, personal vehicle rental fees, and furniture disassembly/installation costs are excluded from the supported moving expenses.
* Applicants may apply for either brokerage fee support or moving expense support alone.
○ The existing “Real Estate Brokerage Fee Support Program,” implemented in 2022 and 2023, has been expanded this year to include moving expenses.

Eligible applicants are young working individuals aged 18–39 who newly moved to Busan or completed their move and resident registration within Busan on or after January 1, 2025. They must meet the following conditions: (i) income at or below 120% of the standard median income, (ii) a rented residence with a lease amount not exceeding KRW 150 million, and (iii) a one-person young household.
○ Eligible birthdates range from January 1, 1985 to December 31, 2007, and the income standard of 120% of the standard median income is determined by the individual’s health insurance premium, regardless of parental income. The lease amount is calculated as the sum of the deposit plus 100 times the monthly rent, which must not exceed KRW 150 million.
* Maximum health insurance premium amounts: KRW 102,613 for employees, KRW 22,380 for self-employed subscribers.

○ However, individuals who own a home, rent a property owned by their parents, or have received similar support under other programs are excluded.

Applications will open at 10:00 a.m. on August 26 and must be submitted online via the Busan Youth Platform (www.busan.go.kr/young).
○ Applicants will need to prepare documents such as a lease contract, proof of moving expenses, resident registration certificate, family relation certificate, and income and employment-related documents.
○ Support funds are provided following a qualification review in the order of application submission, and the program may close early if the budget is exhausted.
○ For more details, applicants may refer to the public notice on the Busan Youth Platform or contact the Busan Economic Promotion Agency (☎051-241-7859).

Kim Gui-ok, Director of the Youth & Industry-Academia Cooperation Bureau, stated, “This program provides practical support to help young people settle in Busan in a stable manner. Although the scale of support is limited this year, we will expand the program next year so that more young people can benefit,” adding, “Busan Metropolitan City will continue to promote policies that young people can directly experience in their daily lives.”