Gwangju Buk-gu, Recruiting New Subscribers for Asset Building Support Project for Low-Income Families

[Asia Economy Honam Reporting Headquarters Reporter Kim Yukbong] Buk-gu, Gwangju Metropolitan City (District Mayor Moon In) announced on the 8th that it is recruiting new participants for the Asset Formation Support Project to help low-income individuals with working ability become self-reliant.

The Asset Formation Support Project was established to assist recipients of basic livelihood security living allowances and the near-poverty class in overcoming poverty.

The Hope Savings Account I is available to households receiving living and medical benefits, and if they save 50,000 KRW or 100,000 KRW monthly for 3 years under the condition of working during the account subscription period, they can receive up to 28 million KRW in government support at maturity.

The Tomorrow Savings Account is for self-support workers who have participated in the self-support work project group for more than one month at the time of application; if they save 200,000 KRW monthly (with options of 50,000 KRW or 100,000 KRW) for 3 years, they can receive up to 23.4 million KRW in support.

The Youth Hope Savings Account is for young living allowance recipients (aged 15 to 39) who are working; after saving for 3 years, upon termination of living allowance benefits, they will receive up to 23 million KRW at maturity.

The recruitment period for Hope Savings Account I, Tomorrow Savings Account, and Youth Hope Savings Account is until the 18th of this month, while Hope Savings Account II and Youth Savings Account will be recruited in May.

Applications can be made at the local administrative welfare centers of the applicant's address and the Dongshin, Ilteo, and Hope Regional Self-Support Centers. For more details, contact the local administrative welfare center or call 129 without an area code.

District Mayor Moon In of Buk-gu said, "This project will be a good opportunity to prepare a lump sum of money and become self-reliant during difficult times such as COVID-19 and economic recession," and added, "We hope for active participation from working low-income households and youth."

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