Gyeonggi-do Introduces 'Disabled Nurim Account' Providing 100,000 KRW Support for 100,000 KRW Monthly Savings

[Asia Economy (Suwon) = Reporter Lee Young-gyu] Gyeonggi Province will implement the 'Disabled Nuri Account' starting this year, which provides an additional 100,000 KRW when a severely disabled 19-year-old saves 100,000 KRW per month. This is the first savings support project for disabled people in Gyeonggi Province.

The province announced on the 12th that applications for the 'Disabled Nuri Account' containing these details will be accepted from the 18th of this month until the 12th of next month.

This project provides additional support from the province and city/county governments matching the amount saved by the disabled up to 100,000 KRW per month for 24 months, allowing them to accumulate about 5 million KRW including principal and interest after 2 years.

The support target is severely disabled persons aged 19 (born in 2003) residing in the province, as defined by the Disabled Welfare Act.

The province set the age criterion at 19 so that the savings can be used for tuition fees, start-ups, and other purposes upon maturity.

Among the severely disabled residing in Gyeonggi Province, there are 1,464 who are 19 years old.

Applications can be submitted at the resident center of the applicant’s town, township, or neighborhood, and even if not by the applicant themselves, direct ascendants or members of the same household can apply on their behalf.

There are no separate income or asset criteria, but those enrolled in similar asset formation support projects cannot apply simultaneously.

The province expects this project to contribute to asset formation for severely disabled youth who have not been able to fully benefit from government and local government youth support programs.

Most youth support programs target young people with earned income or business income, making it practically difficult for severely disabled persons who have difficulty finding employment to participate.

Heo Seong-cheol, head of the Disabled Welfare Division of the province, explained, "Most youth support programs target young people with earned income or business income, making it practically difficult for severely disabled persons who have difficulty finding employment to participate," adding, "We initiated the Nuri Account to provide even a small help to severely disabled persons in the province."

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