Daejeon Youth Hope Savings Account First Maturity... Savings Amount Doubled to 11 Million Won Received

[Asia Economy (Daejeon) Reporter Jeong Il-woong] The first maturity savings will be paid to subscribers of the Daejeon Youth Hope Savings Account. The amount received is twice the amount saved by the subscriber.

On the 13th, Daejeon City announced that it will pay maturity savings of 11 million KRW to 323 participants of the Youth Hope Savings Account.

The Youth Hope Savings Account was introduced in 2018 to provide young workers employed at local companies with opportunities for future planning and asset formation. The participants who will receive the maturity savings are young workers who joined the Youth Hope Savings Account in the year it was introduced.

Participants in the Youth Hope Savings Account saved 150,000 KRW monthly over the past 36 months, accumulating 5.4 million KRW, and the city matched the same amount (5.4 million KRW) during the same period, plus interest, resulting in a total of 11 million KRW to be received.

The city expects the maturity savings to be used as seed money for the economic independence of young people.

In a satisfaction survey conducted among Youth Hope Savings Account subscribers, 87% of respondents expressed satisfaction with the program. Additionally, 85% of all respondents said that joining the Youth Hope Savings Account helped with long-term employment, aligning with the original purpose of the program.

Park Mun-yong, Director of the Youth and Family Bureau of the city, said, “I hope the maturity savings will be of some help to the Youth Hope Savings Account subscribers who have prepared for the future without losing hope despite economic difficulties,” and added, “The city will continue to discover and promote various policies for local youth.”

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