Changwon Special City Recruiting Low-Income Working Youth Participants for Naeil Tongjang Program

Up to Approximately 11.2 Million KRW Provided for 3-Year Term

Changwon Special City in Gyeongnam is recruiting 300 participants for the "2023 First Half Youth Tomorrow Account Project" to support hopeful asset formation for local working youth.

Applicants must be working youth aged between 19 and 34 years old as of the application date, residing in Changwon City, and have a household income at or below 120% of the median income. Those wishing to participate can apply at their local Eup, Myeon, or Dong administrative welfare center by April 21.

Changwon Special City Hall, Gyeongnam.
Photo by Lee Seryeong

The selected youth who maintain employment during the savings period (2 or 3 years) and save 150,000 KRW monthly will receive a matching city support fund of 150,000 KRW each month. Upon maturity, participants will receive the accumulated savings (7.2 million KRW for 2 years, 10.8 million KRW for 3 years) plus interest calculated at a preferential rate (5.8% for 2 years, 5.9% for 3 years) on their savings.

However, those already participating in similar programs such as the Youth Hope Savings Account, Tomorrow Savings Account, Hope Savings Account, or Youth Tomorrow Employment Deduction run by other local governments or the government, as well as business owners, self-employed individuals, foreigners, military personnel, and public officials, are excluded from eligibility.

Choi Young-sook, the Youth Policy Officer, stated, “We will continue to promote various projects to support the stable future and independence of youth living and working in Changwon City.”

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