Gyeonggi-do Expands 'Youth Worker Account' from 2,000 to 9,000 Beneficiaries

[Asia Economy (Suwon) = Reporter Lee Young-gyu] Gyeonggi Province is significantly expanding the number of participants in the Youth Worker Savings Account program from 2,000 to 9,000.

Gyeonggi Province announced on the 9th that it will recruit 9,000 participants for the 'Youth Worker Savings Account' from the 23rd of this month until the 6th of next month to help low-income youth save a lump sum, strengthen financial management skills, and establish a foundation for youth independence.

This program is a policy that helps participants save a lump sum of 5.8 million KRW after two years by maintaining employment for two years and saving 100,000 KRW monthly, including a monthly provincial subsidy of 142,000 KRW. Of this amount, 1 million KRW will be paid in local currency to support local small business owners who are struggling due to COVID-19.

The province also provides financial and labor education and financial consulting to participants during the program period. Participants can freely use the money saved through the Youth Savings Account for various purposes such as startup and operating funds, marriage expenses, education costs, loan repayment, and personal skill development.

Applicants must be residents of Gyeonggi Province aged between 18 and 34, whose household income is recognized as 100% or less of the median income, classified as 'youth workers.' Youth working in companies, as well as non-regular workers, part-timers, and self-employed individuals, are also eligible to apply.

Details and the recruitment announcement can be found on the Gyeonggi Province website (www.gg.go.kr) and the Gyeonggi Youth Worker Savings Account website (https://account.jobaba.net).

The province will finalize and announce the selected participants on September 1 after document screening and review by the evaluation committee.

Kim Kyung-hwan, Director of the Youth Welfare Policy Division of the province, stated, "The Gyeonggi Youth Worker Savings Account program is designed to support young workers in the province who work hard but face difficulties achieving economic independence," adding, "We will actively support as many young people as possible to maintain their jobs and enjoy the benefits of the program."

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