Housing Subscription Savings Account: Who Qualifies and What You Get
Learn how this savings account provides priority access to public and private housing lotteries in South Korea.
The Housing Subscription Savings Account is a specialized savings program designed to help citizens prepare for buying a new apartment.
Who it's for
This scheme is available to any citizen who wants to purchase a new apartment.
What you get
By participating, you gain priority access to housing lotteries for both public and private housing developments. This gives you a better chance of being selected when new apartments become available.
What it costs you
To use this scheme, you must make regular monthly deposits. You can choose to deposit anywhere from ₩20,000 to ₩500,000 each month.
The catch to know
Gaining a high ranking for housing lotteries is not immediate. You must maintain the account and continue your deposits for several years to improve your standing.
How to apply
- Determine your monthly deposit amount within the allowed range.
- Open a subscription account through a financial institution.
- Make your monthly deposits consistently to build your ranking.
- Check the official portal for upcoming housing lotteries.