00:00Before you submit another application in Korea, the housing and hiring numbers today tell a sharper
00:05story than the job postings do. Rent is climbing, lending is tightening, and the entry ladder for
00:10graduates is getting steeper. Three things to carry into your job search.
00:131. The youth Jionse guarantee is shrinking fast.
00:172. Jionse to monthly rent conversion is becoming the default.
00:213. The government is building a new option, but the subsidy gap between Seoul and the rest of the
00:25country matters. It's Wednesday, November 11th. Let's look at what this means for job seekers and
00:31graduates in Korea. Korea's Housing Finance Corporation, known as HF, offers a youth Jionse
00:36guarantee that's open even to students and job seekers with no income. But this year,
00:41new guarantee volume has dropped sharply. Between January and September, the number of new youth
00:46Jionse guarantees fell 22.4% from a year earlier, and the guarantee amount fell 16.1%. For applicants
00:53with no income, the decline was steeper, 30.3% fewer guarantees, and a 28.2% drop in total
01:01amount.
01:01Here's what the numbers show. Small apartments and office tells, the homes young renters typically
01:06target, are seeing fewer new Jionse contracts. Seoul Homes under 30 square meters recorded 17,238
01:13new Jionse contracts in the first nine months, down 4.4%. Apartments fell 23.7%. Office tells fell 14.8%.
01:23Bank lending is also tightening. The five major banks' Jionse loan balances dropped by about 4.4
01:29trillion won over the past year. So what does this mean for job seekers and graduates weighing a move
01:34to Seoul this year? If you're a student or new graduate without income, the guarantee you are
01:39counting on may now be smaller or harder to get. Monthly rent is the fallback, and it's getting more
01:44expensive. The average monthly rent for a small Seoul multifamily unit rose 5.2% in a single month in
01:50September. Earlier, we said that Jionse is shrinking. Here's what that actually means for
01:55you. Budget for monthly rent, and compare the full annual cost, not just the deposit. What to watch?
02:01The government plans a new Jionse to monthly rent hybrid guarantee in January, though the subsidy gap
02:07between Seoul and other regions remains a concern. That's today's AI Prism. Students and Grads. This episode
02:14was produced with AI assistance based on Seoul Economic Daily reporting. AI Prism is a Juan
02:19IFRA award-winning series. We'll be back tomorrow.
