Gyeonggi-do to Implement 'Jalip Dubae Tongwon' Support for Out-of-Home Youth Next Year... Eligibility Requirements Relaxed

[Asia Economy (Suwon) = Reporter Lee Young-gyu] Gyeonggi Province will significantly relax the eligibility requirements for the 'Self-Reliance Double Savings Account,' which will be introduced next year to help out-of-home youth achieve economic independence after leaving care facilities.

The Self-Reliance Double Savings Account is a program that supports youth who have used youth shelters by matching their monthly savings of between 10,000 KRW and 100,000 KRW with double the amount (up to 200,000 KRW) contributed by the province, enabling them to accumulate a minimum fund for self-reliance.

If a youth saves 100,000 KRW monthly, they can accumulate a lump sum of 7.2 million KRW over two years based on the principal, and up to 21.6 million KRW over six years.

The support targets out-of-home youth aged 15 to 24 residing in the province. Eligible individuals must have lived in a youth shelter for at least one year or have left after such a period, or have lived in a youth shelter for at least six months and received support from the Youth Self-Reliance Support Center for at least six months. Selected youth can receive support for up to six years in two-year increments.

The province has significantly relaxed the originally established eligibility criteria ahead of the program launch to allow more out-of-home youth to have the opportunity to participate in the Self-Reliance Double Savings Account.

First, since it is very difficult for out-of-home youth with severed family ties, such as with parents, to practically prove income requirements, the ineffective 'income requirement' (household median income at or below 120%) has been removed.

Also, because there are very few youth shelters where long-term residence of three years or more is possible, and since a combined residence period of one year or more in youth shelters can predict the need for self-reliance support, the condition of residing in a youth shelter for 'three years or more' has been adjusted to 'one year or more.'

To introduce the Self-Reliance Double Savings Account, the province signed a business agreement with NH Nonghyup Bank, the Gyeonggi Youth Self-Reliance Support Center, and other partner organizations. The improved plan with relaxed eligibility requirements has completed consultations with the Ministry of Health and Welfare and the social security system establishment, and the program will be officially launched next month targeting about 100 participants.

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