Yeonggwang-gun to Recruit New Participants for 'Youth Savings Account' Until the 17th

[Asia Economy Honam Reporting Headquarters Reporter Jeon Seong] Yeonggwang-gun, Jeollanam-do (Governor Kim Joon-seong) announced on the 3rd that it is recruiting 'new applicants for the Youth Savings Account' to help working youth (aged 15 to 39) become independent until the 17th.

The Youth Savings Account is a project that supports young workers from near-poverty households to settle in society and become independent by providing funds needed for housing costs, education expenses, and more.

Eligible applicants are young people from housing and education benefit households and near-poverty groups whose recognized income is below 50% of the median income while working.

In this project, if the individual saves 100,000 KRW per month, the government will match with a labor income incentive of 300,000 KRW, allowing them to receive 14.4 million KRW after three years. However, they must continue working for three years.

Additionally, during the account subscription period, they must complete self-reliance capacity training once a year (three times in total) and obtain a nationally certified qualification.

Besides the Youth Savings Account, the county operates asset-building support projects such as Hope Savings Account I & II, Tomorrow Savings Account, and Youth Hope Savings Account for near-poverty groups including basic livelihood security recipients.

The recruitment schedule is monthly (1st to 15th) until November for participants of Hope Savings Account I, Tomorrow Savings Account, and Youth Hope Savings Account; four times (February, May, August, October) for Hope Savings Account II; and twice (April, July) for the Youth Savings Account.

Applications can be submitted at the local town or township office of the applicant's address, where eligibility will be determined through income and asset investigation.

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