Bucheon-si Recruits 317 Participants for 'Gyeonggi-do Youth Worker Savings Account'

If You Save 100,000 Won Monthly, You Can Accumulate 5.8 Million Won in 2 Years

[Asia Economy Reporter Park Hyesook] Bucheon City, Gyeonggi Province, is recruiting 317 new participants for the first round of the 2021 'Gyeonggi-do Youth Worker Savings Account' until the 10th of next month to support the self-reliance foundation of youth in job seeking, entrepreneurship, and housing.

This project returns approximately 5.8 million KRW (including 1 million KRW in local currency) after two years if the youth maintain employment for two years and save 100,000 KRW monthly, combining Gyeonggi-do support funds and interest.

Applicants must be youth workers aged between 18 and 34 residing in Gyeonggi-do, with household income recognized at or below 100% of the median income at the time of application. Both regular employees and part-time or temporary workers can apply.

Unlike last year, those fulfilling military service obligations can apply up to the age of 39, proportional to their period of service.

However, participants or beneficiaries of similar national or local government asset-building support projects, public officials and employees of public institutions, those currently fulfilling military service, and those engaged in illegal entertainment businesses, illegal gambling, or illegal speculative businesses are excluded from this project.

Considering the economic difficulties caused by COVID-19, the number of recruitment rounds has increased from once last year to twice this year (first and second half). Additionally, to strengthen protection for youth during financial crises, the bonus points for individuals undergoing personal rehabilitation or credit recovery support (with repayment for 12 months or more) have been increased from 3 to 5 points.

Applications are accepted only online through the Youth Worker Savings Account website, and selection is based on document screening with priority given to higher scores. The announcement of selected candidates will be posted on June 15 on the Gyeonggi-do Youth Worker Savings Account website.

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