Suncheon City Holds Orientation Session for Subscribers of Suncheon Youth Hope Savings Account for Workers

Providing Self-Reliance Fund Support to 300 Suncheon Youth Over 3 Years, 100 Each Year

[Asia Economy Honam Reporting Headquarters Reporter Lee Hyung-kwon] Suncheon City announced that it held a briefing session for subscribers of the 'Working Suncheon Youth Hope Savings Account Project,' now in its third year, on the 23rd.

The 'Working Suncheon Youth Hope Savings Account Project,' implemented to support young people's stable future preparation and self-reliance foundation, received 265 applications for 100 recruitment spots this year, showing a fierce competition rate of 2.65 to 1.

On the 23rd, the city held a briefing session for the 100 selected participants, providing guidance on the purpose of the savings account project, project details, and the necessary document preparation for opening the Suncheon Youth Hope Savings Account.

The 'Suncheon Youth Hope Savings Account' was introduced to help low-income working youth residing in Suncheon with a monthly income of 2 million won or less prepare for a stable future. The youth and Suncheon City jointly open the account and save 100,000 won monthly for 36 months, and upon maturity, the youth receive double the amount saved, 7.2 million won, plus the accrued interest.

The selected participants will start their first installment in July, and it is expected that all will receive their matured savings by July 2023. Up to this year, marking the third year, a total of 300 Suncheon youths, 100 each year, have received self-reliance foundation funds.

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