Changwon City Recruits New Subscribers for 'Hope Savings Account II' to Help Low-Income Families Build Lump Sums

[Asia Economy Yeongnam Reporting Headquarters Reporter Hwang Choi Hyun-joo] Changwon City, Gyeongnam Province, announced on the 29th that it is recruiting new subscribers for the ‘Hope Savings Account II’ to support asset formation and self-reliance for low-income households.

The application period is from the 3rd to the 19th of next month, and by saving 100,000 KRW per month, after 3 years, subscribers can receive a total of 7.2 million KRW, which includes a 1:1 matching Earned Income Tax Credit on their own savings.

Eligible applicants are working households receiving housing or education benefits and near-poverty households with income below 50% of the median income. Once confirmed as eligible through work status, income, and asset investigation, savings payments can begin from October. To receive support funds, applicants must maintain employment for 3 years and complete case management and education.

Those wishing to apply can do so at their local eup/myeon/dong administrative welfare centers. For more details, inquiries can be made to the city/district social welfare departments or the local administrative welfare centers.

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