Suncheon-si, Recruiting Subscribers for Youth Tomorrow Savings Account Supporting Low-Income Self-Reliance

Support for Working Youth from Households with Median Income Below 100%

[Suncheon=Asia Economy Honam Reporting Headquarters Reporter Lee Hyung-kwon] Suncheon City, Jeollanam-do (Mayor Noh Kwan-gyu) announced on the 13th that it will recruit new subscribers for the Youth Tomorrow Savings Account targeting working youth from the 18th of this month to the 5th of next month.

The Youth Tomorrow Savings Account is a government asset-building support project that helps economically struggling working youth build a lump sum by saving 100,000 KRW monthly for three years, with the government additionally depositing 100,000 to 300,000 KRW monthly to support the asset formation of the youth.

The Youth Tomorrow Savings Account is available to working youth aged 19 to 34 at the time of application who meet all three conditions: ▲earned income or business income exceeding 500,000 KRW but not exceeding 2,000,000 KRW per month ▲household income at or below 100% of the median income standard ▲household assets at or below 200 million KRW based on small and medium-sized city standards.

Basic livelihood security recipients and near-poverty youth have a wider eligible age range of 15 to 39 years and can join if they have earned or business income.

To withdraw upon maturity, all conditions must be met, including continued employment, completion of a total of 10 hours of education, and submission of a fund usage plan document.

Applications can be submitted through the Bokjiro website or the local eup/myeon/dong administrative welfare center. To facilitate smooth applications, a five-day rotation system based on the last digit of the birth date will be implemented for two weeks starting from the application start date on the 18th.

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