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Busan Metropolitan City to Begin Recruiting Applicants for Q4 Newlywed Housing Loan and Interest Support Program Tomorrow (26th)

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Busan Metropolitan City (Mayor Park Heong-joon) announced that applications for the fourth quarter of the “Newlywed Housing Loan and Interest Support Program” will be accepted from tomorrow, September 26, through October 13.

This program, launched in 2020, supports newlywed couples without homes in order to reduce housing expenses and foster a marriage- and childbirth-friendly environment.

The city provides interest subsidies of up to 2.0 percent annually, covering as much as 4 million KRW per year for up to two years (extendable to a maximum of ten years). BNK Busan Bank offers lease deposit loans of up to 200 million KRW, while the Korea Housing Finance Corporation guarantees 100 percent of the loan amount.

Busan Metropolitan City plans to support a total of 400 households in the fourth quarter (1,500 households in 2025). If applications exceed the number of available slots, beneficiaries will be chosen by random drawing.

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Eligible applicants are newlywed couples (within seven years of marriage registration) or engaged couples planning to marry within three months, who have resident registration in Busan as of the application start date (September 26, 2025).

Applicants must meet the following requirements:

• ●Combined annual household income of 130 million KRW or less

• ●Housing lease deposit of 400 million KRW or less for residences (including apartments) or officetels intended for residential use

• ●Signed lease contract with confirmed date by October 12, 2025 (one day before the application deadline)

However, the following are excluded: homeowners, those leasing from their parents, public rental housing residents, recipients of basic livelihood benefits, previous beneficiaries (limited to once in a lifetime), and those receiving duplicate support from similar programs.

Applications can be submitted by Busan residents who are newlywed couples without homes through the BNK Busan Bank mobile banking app from 9:00 a.m. on September 26 until 4:00 p.m. on October 13.

The results will be announced on October 15 via the city’s official website (www.busan.go.kr/childcare/childcare010106). After screening, successful applicants may execute their loans between October 30 and December 31.

Further details on the program are available on the city’s official announcements page (www.busan.go.kr/nbgosi).

Since October of last year, Busan Metropolitan City has expanded eligibility criteria by raising the combined annual household income cap from 80 million KRW to 130 million KRW and the lease deposit cap from 300 million KRW to 400 million KRW, thereby increasing participation from dual-income couples and expanding their housing options.

Park Seol-yeon, Director General of the Bureau of Gender Equality and Family, stated, “Through this support program, we have worked to ease the initial financial burden for couples starting families. We will continue to expand customized policies so that newlyweds can feel secure in raising children in Busan.”