Incheon 'Jungso Gieop Jaejik Cheongnyeon Tongjang' First Maturity... 180 People Receive 10 Million Won

[Asia Economy Reporter Hyesook Park] Incheon City has produced the first matured beneficiaries of the 'Dream for Youth Account' project, which is being promoted for young workers in small and medium-sized enterprises.

The city announced on the 15th that, since the project started in 2019, 180 young workers reached the 3-year maturity and each received 10 million won for the first time.

The Dream for Youth Account project provides a lump sum of 10 million won by adding Incheon City's support fund of 6.4 million won to the 3.6 million won saved by young workers employed at small and medium-sized enterprises, who save 100,000 won monthly for three years.

It was launched to support young workers' long-term employment retention and lump sum savings. Starting with 310 participants in 2019, the number increased annually to 450 in 2020, 660 in 2021, and 770 this year, reaching a total of 2,190 participants.

Especially this year, eligibility criteria such as length of employment and salary standards were significantly relaxed to allow more young people to benefit.

Incheon City plans to support 13.6 billion won by 2025 for young workers who open Dream for Youth Accounts and is also considering securing additional budgets to expand new enrollments.

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