[Changes in 2022] The Government Gives Discharged Soldiers One-Third More of the Principal in the Jangbyeong Naeil Preparation Savings Account

Changes in 2022

[Sejong=Asia Economy Reporter Joo Sang-don] From the January 2022 deposits of the Jangbyeong Naeil Junbi Savings, the government will additionally support one-third of the principal.

On the 31st, the government published a guide titled 'Changes Starting from 2022' containing this information.

A Ministry of National Defense official stated, "As part of building a youth hope ladder under the Korean New Deal 2.0, the government supports those fulfilling their military service by linking the Jangbyeong Naeil Junbi Savings so that the military service period can be recognized as an investment period for the future," adding, "This enables funds for tuition and lump-sum savings for social advancement after discharge."

For example, if 400,000 KRW is deposited monthly for 18 months into the Jangbyeong Naeil Junbi Savings, the government will additionally support 2,514,000 KRW, which is one-third of the principal (7,200,000 KRW). Including the bank interest on the principal (5%) and the government interest support (1%), the total amount received upon discharge can reach 10,056,000 KRW.

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