Housing Subscription Savings: Who Qualifies and What You Get
Learn how this savings account gives you priority status when applying for new apartments in South Korea.
This scheme is a specialized savings account designed to help residents prepare for buying a new home. By maintaining this account, you gain a better chance of being selected when new apartment developments are released.
Who it's for
This program is available to any resident living in South Korea.
What you get
The primary benefit is receiving priority status when applying to purchase new apartments. This helps you become more competitive when many people are trying to buy the same housing developments.
What it costs you
To participate, you must make monthly deposits into the account. You can start with a relatively small amount, with monthly contributions beginning at ₩20,000.
The catch to know
This is a long-term commitment. To gain enough competitive points to be successful, you must keep the account active and making deposits for many years.
How to apply
- Visit a local bank to open a specialized housing subscription account.
- Set up a recurring monthly deposit amount.
- Maintain the account consistently over several years to build your points.