Sunchang-gun Promotes 'Youth Worker Seed Bank Support Project'

Published 14 Mar.2023 17:16(KST)

Sunchang-gun, Jeonbuk Province, is implementing the ‘Youth Worker Seed Money Account Support Project,’ one of the core pledges of Mayor Choi Young-il’s universal welfare policy in the 8th local government administration.

Choi Young-il, Sunchang County Governor [Photo by Sunchang County]

According to the county on the 14th, this project aims to motivate young workers in regions with lower earned income compared to urban areas and provide opportunities to establish a foundation for economic independence. The project was finalized through consultations with the Ministry of Health and Welfare on establishing a new social security system last November and is being implemented for the first time this year.

The support targets young workers aged 18 to 39.

The project, which will begin recruiting participants from the 21st, involves participants actively saving 100,000 KRW monthly, while the county supports double that amount, 200,000 KRW monthly. After two years, participants will receive the principal of 7.2 million KRW plus interest from the savings.

For more details, refer to the announcement posted on the county office website.

According to the year-end tax settlement report on earned income for 2021, based on the address, the number of year-end tax filers in the county was 6,662, with an average earned income of 33.09 million KRW, which is 7.16 million KRW less than the national average and 2.18 million KRW less than the Jeonbuk average.

The county anticipates that the income gap among young workers in the region is even greater and is preparing to implement welfare-related projects such as the Youth Worker Seed Money Account Support Project and the Child Happiness Allowance from the perspective of universal welfare.

Mayor Choi Young-il stated, “Lower earned income compared to urban areas is a factor that could cause young people to leave for other regions at any time. We will do our best to create a happy Sunchang for all residents by promoting welfare policies that provide a tangible level of support comparable to urban areas.”