Make a Lump Sum of 10 Million Won... Incheon City Recruiting Participants for 'Dream For Cheongnyeon Account'

Incheon City Hall

[Asia Economy Reporter Park Hyesook] Incheon City is recruiting participants for the 'Dream For Youth Account' from the 17th of this month until the 9th of next month to help young employees of local small and medium-sized enterprises (SMEs) and mid-sized companies build assets.

The Dream For Youth Account allows young workers to save 100,000 KRW monthly, totaling 3.6 million KRW over three years, after which Incheon City adds 6.4 million KRW in matching funds, enabling them to accumulate a lump sum of 10 million KRW.

Introduced in 2019 to promote long-term employment retention and asset formation among young workers, Incheon City plans to select and support about 600 participants this year, an increase from 450 supported last year.

Applicants must be youth workers aged 39 or younger residing in Incheon who have been employed for at least two years at SMEs or mid-sized manufacturing companies or knowledge service industries in Incheon. They must be regular employees working 35 hours or more per week, enrolled in the four major social insurances, and earning an annual salary of 28 million KRW or less.

Interested individuals must apply online through the website (http://dream.incheon.kr). After document screening, the final selected participants will be announced on the 29th of next month. Detailed information can be found on the Incheon City and Incheon Technopark websites.

An official from Incheon City stated, "This program encourages long-term employment and supports lump-sum savings for young workers employed at local SMEs and mid-sized companies. This year, we plan to expand the number of selected participants to provide benefits to more young workers."

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