"Savings Double Up" ... BNK Busan Bank and Busan City Launch Agreement Product "Busan Youth Joy Double Account"

Selection of 4,000 Youth on the 5th, Product Subscription at Busan Bank from 13th to 18th

Monthly Savings Matched 1:1 by Busan City, Up to 5.4 Million KRW per Person

Busan Youth Double Joy Savings Account.

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] BNK Busan Bank and Busan City are launching a collaborative product.

BNK Busan Bank announced on the 5th that it will launch the ‘Busan Youth Double Joy Savings Account’ from the 13th to the 18th in accordance with a business agreement with Busan City.

The Busan Youth Double Joy Savings Account is a savings product designed to support asset formation for working youth residing in Busan. The project is overseen by Busan City, and the product can be subscribed to through Busan Bank’s mobile banking and branch counters.

The subscription target is working youth selected through Busan City’s screening process. On the 5th, 4,000 eligible applicants were confirmed through the recruitment announcement held in June.

The subscription period for this account can be chosen from 18, 24, or 36 months. Depending on the period, up to 300,000 KRW can be saved monthly, with a maximum principal accumulation of 5.4 million KRW.

If a qualified youth saves 300,000 KRW monthly for 18 months, Busan City will match the total principal amount of 5.4 million KRW, resulting in a total of 10.8 million KRW plus additional interest. The youth can use the accumulated funds for purposes necessary for independence such as housing, start-ups, education, marriage expenses, and loan repayment.

Jung Young-jun, Head of Customer Support Group at Busan Bank, said, “The Busan Youth Double Joy Savings Account is a product that helps working youth in the Busan area achieve independence and asset formation,” adding, “Busan Bank will continue to actively participate in various projects supporting local youth and financially marginalized groups.”

Since early September, Busan Bank has been temporarily implementing special early termination services for savings and deposits for financially marginalized groups such as basic livelihood security recipients and near-poverty class, through the ‘Economic Crisis Overcoming Partnership Project’ agreed upon with Busan City and the City Council.

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