Yeosu City Supports Youth Hope Stepping Stone Account Participants... 100,000 KRW Savings Matched with 100,000 KRW Aid

Principal of 7.2 million KRW and interest payment after 3 years of accumulation

[Asia Economy Honam Reporting Headquarters Reporter Lee Hyung-kwon] Yeosu City (Mayor Kwon Oh-bong) announced on the 29th that it will recruit 293 participants for the Youth Hope Stepping Stone Savings Account project to support the economic independence of hardworking young people.

This project matches 100,000 KRW monthly savings by the youth with an additional 100,000 KRW from the local government, allowing participants to receive 7.2 million KRW plus interest upon maturity after 3 years.

The city has relaxed the eligibility criteria from low-income workers to workers or business owners this year to allow more young people to benefit, and will recruit 293 participants from the 1st to the 19th of next month.

Eligibility requires youth aged between 18 and 39 years old (born between January 26, 1981, and January 24, 2003) residing in Yeosu City, with household income recognized as 120% or less of the median income.

Additionally, applicants must have at least 3 months of work experience within the last 6 months as of the announcement date, or have opened a business more than 6 months ago and operated it for at least 3 months.

Youth wishing to participate in the project can submit the application form and required documents in person or by mail to the local town, township, or neighborhood community service center of their residence.

Detailed information including the application form can be found on the Yeosu City website under public notices.

A city official stated, “We expect many young people to secure funds needed for job seeking, start-ups, marriage, housing, and student loan repayment through this project,” and added, “We encourage active participation from the youth.”

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