"Youth Dreams and Career Development Supported"… Incheon City Provides 100,000 KRW Monthly Rent Support for Job-Seeking and Startup Youth

Expansion to 320 Recipients for 3 Million KRW Job-Seeking Activity Support 'Dream Check Card'
4 Billion KRW Lump Sum 'Dream for Youth Account' Support for 400 People

Incheon Mayor Park Nam-chun is visiting Repac Co., Ltd. (Gajwa-dong, Seo-gu), an excellent company for youth employment, and talking with young workers. 2018.12.6 [Photo by Incheon City]

[Asia Economy Reporter Park Hyesook] Incheon City is implementing various support measures to help young people find their dreams and develop their careers.

According to the city on the 21st, as a new project this year, starting in the second half, economically vulnerable single-person households and employed or self-employed youth will receive 100,000 KRW per month to reduce the burden of housing costs for young people.

The monthly rent support targets those aged 19 to 39, with about 400 people expected to benefit this year. The city plans to select recipients and provide support funds through applications after establishing a business system in cooperation with the Ministry of Health and Welfare's Social Security Council.

Additionally, the 'Dream Check Card' that supports job-seeking expenses and the 'Dream For Cheongnyeon Account' project to help young workers save a lump sum will continue this year as they did last year.

The city issues the Dream Check Card, which allows unemployed youth to use up to 500,000 KRW per month for six months, totaling 3 million KRW for job-seeking expenses. This prepaid card can be used for interview fees, certification application fees, purchase of textbooks and books, as well as indirect expenses such as transportation and meal costs related to job-seeking activities.

After supporting 280 people last year, the target will be expanded to 320 this year. Recruitment announcements will be made in March, and recipients will be selected in April.

The 'Dream for Cheongnyeon Account,' which supports young workers in small and medium-sized enterprises to save a lump sum, provides a one-time support where if a young worker saves 100,000 KRW monthly for three years, the city adds 6.4 million KRW to the principal savings of 3.6 million KRW, totaling 10 million KRW.

The support targets are regular young workers under 39 years old who have worked for two or more years at small and medium-sized manufacturing companies in the Incheon area with an annual contract salary of 24 million KRW or less. Last year, 310 accounts were opened, and this year, 400 new participants will be recruited and supported. The city plans to complete recruitment and selection within the first half of the year.

The city expects that the implementation of this system will help young people establish a minimum economic foundation, encourage long-term employment of young workers in small and medium-sized enterprises, alleviate manpower shortages in small businesses, and promote youth employment.

This content was produced with the assistance of AI translation services.