Seongnam City Introduces 'Smile Account' Doubling Savings for People with Developmental Disabilities

Seongnam City Smile Account Promotion Poster

Seongnam City in Gyeonggi Province is launching the Smile Account program, which returns double the amount saved to help young adults with developmental disabilities build a foundation for independence.

In this program, if the participant saves 100,000 KRW each month, Seongnam City will add an additional 100,000 KRW monthly, paying out 7.2 million KRW plus interest after a 3-year maturity period. This program is being introduced for the first time this year.

However, when receiving the maturity funds, participants must submit a plan detailing the intended use, such as housing expenses, rent or lease payments, tuition fees, or vocational training.

To promote the Smile Account program, Seongnam City has secured a budget of 40 million KRW this year and will recruit 42 participants from the 30th of this month to the 7th of next month.

Eligibility requires being a developmental disability individual aged 19 to 34 residing in Seongnam City. Regardless of employment status, applicants must belong to a household with a median income at or below 100% based on this year’s National Health Insurance premium standards.

Selected participants can open a Smile Account by visiting the NH Nonghyup Bank Seongnam City Hall branch designated by Seongnam City.

To alleviate excessive burdens and financial difficulties faced by families caring for individuals with developmental disabilities, Seongnam City will establish a night care program operating until 9 PM at the Seongnam City Disabled Family Support Center located in Taepyeong-dong starting this May.

Additionally, smart safety devices such as necklaces and accessories to prevent disappearances will be distributed to 200 people next month.

Among the 36,123 registered disabled individuals in Seongnam City, 3,751 (10%) have developmental disabilities. Of these, 1,429 (38%) are young adults aged 19 to 34.

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