A government program to provide up to 200-thousand won a month in housing rental fees to young people will begin in the middle of next year and is expected to benefit around 150-thousand people.

According to the finance ministry on Friday, the program will be open to young adults aged 19 to 34 who earn less than 60 percent of median income, or whose parents make less than 100 percent of the median income.

The applicants will receive a payment of up to 200-thousand won a month for a total of 12 months.

A committee that assessed the program decided to inject 299-point-seven billion won to assist around 150-thousand young people over two years until mid-2024.