Jeonnam Province "Apply for the 'Youth Tomorrow Savings Account' to Support Youth Independence"

Visit and Online Registration Until the 26th

Jeonnam Province has begun recruiting applicants for the ‘Youth Tomorrow Savings Account,’ which supports the economic independence of low-income working youth.

According to the province on the 1st, youth who wish to join the Youth Tomorrow Savings Account can apply by visiting in person or online by the 26th.

In-person applications can be made through the local town or township community service centers, with a five-day rotation system in place until the 12th. Online applications can be submitted via Bokjiro for two weeks from the 15th to the 26th.

The ‘Youth Tomorrow Savings Account,’ which supports low-income youth earning 100% or less of the median income while continuing work activities with monthly support ranging from 100,000 to 300,000 KRW, is promoted in two types.

Applicants for the ‘Below the Near-Poor’ type, who earn 50% or less of the median income, must be between 15 and 39 years old and have a monthly earned or business income of at least 100,000 KRW.

Applicants for the ‘Above the Near-Poor’ type, who earn more than 50% but 100% or less of the median income, must be between 19 and 34 years old and have a monthly earned or business income exceeding 500,000 KRW but not exceeding 2,200,000 KRW.

Household assets for both types, ‘Below the Near-Poor’ and ‘Above the Near-Poor,’ must be below 350 million KRW in metropolitan areas, 200 million KRW in small and medium cities, and 170 million KRW in rural fishing villages to qualify.

Youth selected for the program who save at least 100,000 KRW monthly for three years during the subscription period will receive a monthly earned income incentive of 300,000 KRW for the ‘Below the Near-Poor’ type, allowing them to receive more than 14.4 million KRW at maturity. For the ‘Above the Near-Poor’ type, a monthly earned income incentive of 100,000 KRW is provided, enabling them to receive more than 7.2 million KRW at maturity.

Lee Sang-sim, Director of Health and Welfare at Jeonnam Province, said, “Currently, 1,181 youth in the Jeonnam region are enrolled and maintaining their Youth Tomorrow Savings Accounts,” adding, “We will continue to support so that Jeonnam youth can have more opportunities to soar higher.”

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