Incheon City Opens Applications for 'Dream for Cheong Youth Account'... Save 3.6 Million KRW to Receive 10 Million KRW

Incheon City is recruiting applicants for the 'Dream For Youth Account' for young employees working at small and medium-sized enterprises (SMEs) and mid-sized companies.

This account provides a total of 10 million KRW by adding Incheon City's support fund of 6.4 million KRW to the 3.6 million KRW saved by young workers who deposit 100,000 KRW monthly for three years.

The city introduced this program in 2019 to help young workers maintain long-term employment and accumulate a lump sum, and by supporting 800 people this year, a total of 2,990 individuals will have benefited over five years.

Eligible applicants are young workers aged 39 or younger residing in Incheon who have been employed for more than one year at small or mid-sized manufacturing companies or knowledge service industries located in Incheon. Additionally, applicants must work at least 35 hours per week, be enrolled in the four major social insurances, and have an income at or below 150% of the median income (37.41 million KRW for a single-person household).

Notably, this year the eligibility has been expanded to include non-regular workers.

The application period is from the 31st of this month to the 28th of next month, and applications can be submitted online through the Incheon Youth Social Advancement website. After document screening, the final selected candidates will be announced on June 9.

An official from Incheon City stated, "We expect the Dream For Youth Account to help young people who are diligently working at local companies to build their assets."

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