From November 1, 2024, the monthly recognized contribution for housing subscription accounts (cheongyak-tonggjang) rose from 100,000 KRW to 250,000 KRW. Depositing anywhere from 20,000 to 500,000 KRW per month remains freely permitted as before, but for the accumulated savings balance that determines public housing (gongong-bunyang) winners, up to 250,000 KRW per installment is now counted. Looking at the number alone, it seems like everyone should raise their deposit to 250,000 KRW — but the tracks where this money matters and those where it does not are different.
What Changed — Recognized Amount Raised from 100,000 to 250,000 KRW
The Ministry of Land, Infrastructure and Transport announced the housing subscription account improvement plan on September 25, 2024, and the monthly recognized contribution increase took effect on November 1 of that year (Tax Accountants' Newspaper). Housing subscription accounts had always allowed free monthly deposits of 20,000–500,000 KRW, but only up to 100,000 KRW per installment was recognized as the contribution amount when determining public housing winners. With that ceiling raised to 250,000 KRW, depositing 250,000 KRW per month for 5 years creates an account with a total savings balance of 15 million KRW — under the old 100,000 KRW recognized amount structure, reaching the same figure would have taken 12 years and 6 months.
The income deduction also moved in sync that same year. The income deduction eligible contribution ceiling for housing subscription accounts rose from 240,000 KRW to 300,000 KRW per year (for household heads without homeownership with total annual salary of 70 million KRW or less), and depositing 250,000 KRW for 12 months exactly fills that 300,000 KRW ceiling. The recognized amount increase and the income deduction ceiling were designed to meet at the same figure.
This overhaul also included other pieces. The interest rate on housing subscription accounts rose 0.3 percentage points from 2.0–2.8% to 2.3–3.1%, and from October 1, 2024, the subscription deposit and subscription savings accounts — previously limited to private housing — became convertible to the comprehensive housing subscription savings account (jutaek-cheongyak-jonghap-jeochuk). Subscribers using the prepayment system (seonan) can also increase their monthly contribution amount.
How Many Years to Reach the Winning Balance — The Difference Between 100,000 and 250,000 KRW
For public housing (national housing, gungmin-jutaek) general supply, winners in unit types above exclusive-use 40 m² are ranked by accumulated savings balance, and in types of 40 m² and below by number of contribution installments (Banksalad). A real-world data point shows the competitive level of that balance race. According to Seoul Economic Daily, the average winning savings balance for the general supply of the first public housing New:Home (Nyum) pre-application was 14.93 million KRW, with individual sites reaching as high as 25.2 million KRW in Goyang Changneung, 23.4 million KRW in Yangjeong Station Area, and 20.8 million KRW in Namyangju Jinjeop 2.
Using these winning balances as target totals, the time to reach each target at 100,000 KRW vs. 250,000 KRW recognized amounts is as follows (simple accumulation calculation at recognized amount; 250,000 KRW recognition applies to contributions from November 2024 onward).
| Target Savings Balance | At 100,000 KRW/month | At 250,000 KRW/month |
|---|---|---|
| 15 million KRW (near public housing pre-app average winning balance) | 150 installments — 12 years 6 months | 60 installments — 5 years |
| 20 million KRW | 200 installments — 16 years 8 months | 80 installments — 6 years 8 months |
| 25.2 million KRW (Goyang Changneung winning balance) | 252 installments — 21 years | 101 installments — 8 years 5 months |
For accounts that have been contributing 100,000 KRW for a long time, the existing accumulated balance remains as is, and the 250,000 KRW recognition stacks on contributions made from the effective date forward. The total balance advantage of long-time contributors does not disappear overnight, but maintaining a 100,000 KRW deposit means accounts accumulating 250,000 KRW behind them close the gap by 150,000 KRW every month. Note, however, that the table above is arithmetic based on the assumption of consistently filling the recognized amount, and if everyone starts depositing 250,000 KRW, the winning balance will also rise — the target total is not a fixed line but a moving target.
250,000 KRW per month is not everyone's right answer — it is the entry fee for those who are entering the accumulated savings balance competition for public housing.
Who Does Not Need 250,000 KRW — The Private Housing Track
Private housing subscriptions are not an accumulated savings balance competition. What determines eligibility is whether the regional and unit-type deposit standard amount has been met (e.g., 3 million KRW for exclusive-use 85 m² or less in Seoul and Busan, 15 million KRW for all sizes), and winners are determined by points (period without homeownership, number of dependents, subscription period) and lottery. If private housing is the only target, there is no reason to strain to deposit 250,000 KRW per month; maintaining the subscription period while building up the deposit is more important — that is Banksalad's summary. The items most commonly miscalculated in the points system are covered in the housing subscription points calculation guide.
The judgment criterion ultimately comes down not to the account but to the track. If the target is public housing general supply (exclusive-use above 40 m²), accumulated savings balance is the ranking, so filling the 250,000 KRW recognized amount is effective; if the target is private housing points-based or lottery-based subscription, redirecting the difference to deposit preparation or other savings is the arithmetic that makes sense. For those who qualify for the income deduction (household head without homeownership with total salary of 70 million KRW or less), whichever track you are on, contributions up to 300,000 KRW per year work for year-end tax settlement — that is a bonus regardless.
Checklist
- Whether my target is public housing (national housing) or private housing — the monthly deposit strategy is completely different depending on the track
- My account's recognized contribution installments and total savings balance from the Cheonggyakhome portal — the starting point for calculating the distance to the winning balance
- For household heads without homeownership with total annual salary of 70 million KRW or less: whether the annual 3 million KRW income deduction ceiling is being filled
- The deposit standard amount for the target region and unit size of private housing, and whether it is met before the announcement of occupant recruitment
- Whether the target unit type is above exclusive-use 40 m² (balance competition) or 40 m² or below (installment count competition)
References
- Tax Accountants' Newspaper — Monthly Recognized Contribution for Housing Subscription Accounts Raised Starting November
- Seoul Economic Daily — Average Winning Balance 14.93 Million KRW for First Public Housing New:Home Pre-Application General Supply
- Banksalad — Housing Subscription 250,000 KRW: Should I Also Deposit This Much?