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Busan Offers Young Residents Up to KRW 400,000 for Brokerage Fees and Moving Expenses... Applications Open August 18

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Busan Metropolitan City, led by Mayor Chun Jae-soo, announced that it will accept applications from August 18 through 24 for the 2026 Busan Youth Real Estate Brokerage Fee and Moving Expense Support Program. The program is designed to ease the housing cost burden on young adults who frequently relocate for employment and other reasons and to help them establish stable lives in Busan.

The program provides working young adults who have moved to Busan or relocated within the city with a one-time reimbursement of up to KRW 400,000 for actual real estate brokerage fees and moving expenses, including freight delivery and full-service moving costs.

Moving-related courier fees, cleaning fees, personal vehicle rental fees, and furniture relocation and installation fees are not covered. Applicants may apply for either brokerage fees or moving expenses alone.

Beginning with the 2026 program, Busan Metropolitan City has improved the program by easing eligibility requirements, simplifying required documentation, and making the application process more convenient for young adults.

Eligibility has been expanded from single-person young adult households to households headed by a young adult, lowering the threshold for receiving support.

The City has also established a public MyData system, significantly reducing the number of required documents from eight to three. This change is expected to lessen the burden of preparing documentation and streamline the application process.

Previously, applicants were required to submit eight documents: a resident registration certificate and transcript, a family relations certificate, a health insurance eligibility history certificate, a health insurance premium payment certificate, a business registration certificate, a lease agreement, payment receipts, and a copy of a bankbook. Under the revised process, only three documents are required: a lease agreement, payment receipts, and a copy of a bankbook.

An income certificate has also been added as an acceptable form of income verification, expanding application opportunities for young adults whose income is difficult to determine solely through health insurance premiums. This change is expected to enable a broader range of young adults to receive support.

Eligible applicants must be working young adults aged 18 to 39 who moved to Busan or relocated within the city and completed resident registration between August 1, 2025, and July 31, 2026. They must also have income at or below 120 percent of the standard median income and reside in a property with a lease transaction value of KRW 150 million or less.

Eligible applicants must have been born between January 1, 1986, and December 31, 2008. The income threshold is 120 percent or less of the standard median income, equivalent to an average monthly income of KRW 3,078,000 or less for a single-person household. An applicant’s income will be verified using either the health insurance premium paid in the month preceding the application date or an income certificate. For married young couples, the spouses’ incomes will be combined, and the applicable income threshold will be determined according to the number of household members.

For a single-person household, the average monthly income threshold is KRW 3,078,000. The employee health insurance premium threshold is KRW 110,969, and the locally insured health insurance premium threshold is KRW 32,899.

The lease transaction value is calculated by adding the rental deposit to the monthly rent multiplied by 100 and must not exceed KRW 150 million.

Applications may be submitted online through the Busan Youth Platform at www.busan.go.kr/young from 10:00 a.m. on August 18 to 6:00 p.m. on August 24.

Following an eligibility review, 310 recipients will be selected through a random drawing. Additional recipients may be selected within the available budget.

Further details are available in the official notice posted on the Busan Youth Platform. Inquiries may be directed to the Busan Economic Promotion Agency at 051-241-7873.

Kim Gwi-ok, Director-General of the Youth and University-Industry Cooperation Bureau, said, “This year, we focused on making the Busan Youth Real Estate Brokerage Fee and Moving Expense Support Program more accessible by easing eligibility requirements and simplifying the required documentation. We will continue to pursue practical and effective policies that young adults can genuinely benefit from.”