Seoul Government to Provide Housing Subsidy to Married Couples with Newborns

Korea: The Seoul Metropolitan Government announced on Sunday that it will provide housing subsidies to couples who do not own a home and have newborns beginning in 2025, aiming to reduce the trend of couples foregoing parenthood due to the city's high housing costs and allow more married couples with newborns to remain in Seoul. Under the programme, the local government announced its intention to provide financial assistance of 300,000 won ($218) per newborn per month for a maximum of two years. This means that married couples can get a maximum subsidy of 7.2 million won per infant. Multicultural families are also eligible for the reimbursement if one of the parents and their child has Korean nationality.

Source: Seoul Metropolitan Government