Yeosu City Recruiting Subscribers for Low-Income Self-Reliance Support 'Hope Growth Account II'

Up to 3 Years: "Save 100,000 Won, Get an Additional 100,000 Won Support"

[Asia Economy Honam Reporting Headquarters Reporter Lee Hyung-kwon] Yeosu City (Mayor Kwon Oh-bong) is recruiting the 4th round of new subscribers for the ‘Hope Savings Account II’ from the 12th to the 29th of this month to help low-income families achieve self-reliance and asset formation.

The ‘Hope Savings Account II’ is a program where low-income families save 100,000 KRW monthly for three years, and the government provides an additional 100,000 KRW per month. At maturity, participants receive the principal of 7.2 million KRW plus interest.

Eligible applicants are current workers with household income below 50% of the median income (2,374,587 KRW for a family of four), recipients of housing and education benefits, and the near-poor class. General applicants who meet the median income criteria can also apply.

Subscribers must maintain the account for three years and receive education on self-reliance and account management.

Additionally, the support funds must be used for purposes necessary for self-reliance, such as purchasing a home, education expenses, or medical costs.

Those wishing to apply should visit their local eup, myeon, or dong community service center within the application period. Once confirmed as eligible, they can start making deposits from December.

A city official stated, “The Hope Savings Account is a solid foundation for the self-reliance of low-income families,” adding, “We hope many eligible individuals will nurture their hopes through this program.”

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