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New Application Process Introduced for the Newlywed Couples Jeonse Loan Interest Support Program… Rolling Applications to Begin in July

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Busan Metropolitan City (Mayor Park Heong-joon) announced that it will reorganize the application and selection process for the “Busan Metropolitan City Newlywed Housing Loan and Interest Support Program” and implement the new system beginning July 1 in order to reduce housing cost burdens for newlywed couples and eliminate application timing constraints caused by the previous quarterly recruitment schedule.

The program is one of Busan Metropolitan City’s representative housing support policies for newlywed couples. Since its introduction in 2020, more than 7,000 households have applied as of the first half of 2026.

Notably, this reform marks the first time since the program’s launch that the quarterly recruitment and random lottery system will be abolished and replaced with a rolling application and first-come, first-served support system. Newlywed couples will therefore be able to apply according to their lease contract and moving schedules without waiting for recruitment announcements.

In addition, Busan Metropolitan City will improve the support-period extension requirements to strengthen childbirth-friendly assistance while enhancing the program’s demand-oriented operating system.

Previously, pregnancy was recognized for support-period extension only when pregnancy status could be verified at the time of applying for a loan extension. Under the revised system, applicants who experienced a miscarriage after pregnancy will also be considered eligible for an extension if the pregnancy can be verified.

The city expects that this institutional improvement will provide more practical support by reflecting various situations that may arise during pregnancy and childbirth.

The program is available to homeless newlywed couples seeking lease deposits. Eligible applicants include newlywed couples registered as residents of Busan Metropolitan City as of the loan application date (within seven years of marriage registration) and prospective newlywed couples planning to marry within three months.

To qualify, applicants must meet requirements including a combined annual household income of 130 million won or less, residence in a property with a lease deposit of 400 million won or less (including apartments and residential officetels), and the execution of a lease agreement bearing a fixed-date certification.

However, homeowners, individuals who have signed lease agreements with their parents, residents of public rental housing, recipients of basic livelihood security benefits, previous beneficiaries of the program (limited to one lifetime benefit), and recipients of similar housing support programs are excluded from eligibility.

Eligible newlywed couples may receive interest support of up to 2.0 percent per year on jeonse loans, reducing annual interest expenses by up to 4 million won. Interest support is provided for two years and may be extended for up to ten years if applicants meet conditions such as pregnancy, childbirth, or infertility treatment.

BNK Busan Bank provides loans of up to 200 million won within 90 percent of the lease deposit amount, while the Korea Housing Finance Corporation guarantees 100 percent of the loan amount, helping newlywed couples access financial support more securely.

Applications can be submitted through the BNK Busan Bank mobile banking app. Detailed information is available in the official notices section of the Busan Metropolitan City website at busan.go.kr/nbgosi.

The application period runs from July 1 through November 30. Applications may close early if the budget is fully exhausted.

Park Seol-yeon, Director General of the Women and Family Bureau, stated, “This institutional reform is intended to ensure that newlywed couples can receive housing support when they actually need it, based on their own lease contracts and moving schedules rather than the city’s recruitment timetable. We will continue to pursue effective policies that promote housing stability for newlywed couples and foster a marriage- and childbirth-friendly environment.”