Ulsan City Supports Savings Until Marriage... Ulsan Youth Hope Savings Program Now Open for Applications

30,000 KRW Monthly for Youth + 20,000 KRW from City, 18 Million KRW Paid After 3 Years of Accumulation

Ulsan City Hall.

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] Ulsan City is promoting this year's 'Ulsan Youth Hope Savings Project' to encourage long-term employment and marriage among young workers in small and medium-sized enterprises.

The Ulsan Youth Hope Savings Project is a program where young workers and Ulsan City jointly save a fixed amount monthly for three years. If the youth get married and maintain employment during this period, they receive a lump sum payment upon maturity. This program has been in operation since 2020.

If a young worker saves 300,000 KRW monthly, Ulsan City matches with 200,000 KRW monthly, jointly accumulating funds over three years. Upon marriage at maturity, the principal of 18 million KRW plus interest is paid out.

Applicants must be unmarried workers aged between 19 and 34 residing in Ulsan, employed for at least two years at a manufacturing SME located in Ulsan, with a total monthly salary of 3.5 million KRW or less in 2021.

This year, 45 applicants will be selected considering income criteria and employment duration.

Interested youth can apply from June 1 to June 17 via the Ulsan Job Portal or by visiting the Ulsan Job Foundation.

The cumulative number of participants in the Ulsan Youth Hope Savings Project, including the 45 to be selected this year, totals 105 as of 2022.

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