MOLIT Vows to Recover Improperly Received Funds Amid Controversy Over Youth Monthly Rent Support

[Financial News] The Ministry of Land, Infrastructure and Transport plans to recover funds improperly received under the Youth Monthly Rent Support Program.
MOLIT said in a notice on the 3rd, "The government will do its utmost to recover improperly received funds by working with local governments to regularly monitor recovery efforts and strengthen management of unrecovered amounts."
According to media reports the previous day, the amount determined for recovery of improperly received youth rent support over the four years from 2022 through last year totaled 209.24 million won. However, the amount actually recovered was approximately 74.3 million won. The recovery rate was one-third, while the support amount had also been increased from 200,000 won to 300,000 won per month, according to the reports.
MOLIT emphasized, "Through improvements to the Youth Monthly Rent Support Program's system, we will work to minimize improper payments by quickly identifying changes in beneficiaries' eligibility, including duplicate receipt of housing benefits and changes of address."
MOLIT also refuted several other claims. "The Youth Monthly Rent Support Program was not included in the supplementary budget passed last April, so this year's budget remains unchanged at the originally allocated 130 billion won," MOLIT explained. It added, "The claim that the support amount was increased to 300,000 won is also untrue."

[email protected] Jung Kyung-soo Reporter