Gyeongnam Bank and Gyeongnam Province Establish 'Modadream Youth Account Cooperation System'

Joining Forces to Build a Cooperative System for Business Promotion

BNK Gyeongnam Bank signed an agreement with Gyeongsangnam-do on the 11th to establish a cooperative system for the Moda Dream Youth Account.

The signing ceremony for the establishment of the Moda Dream Youth Account cooperative system was held with Bank President Ye Gyeongtak, Gyeongsangnam-do Governor Park Wansu, and about 10 officials from each institution in attendance.

BNK Gyeongnam Bank President Ye Kyung-tak (third from the left in the photo) and Gyeongsangnam-do Governor Park Wan-su (fourth from the left in the photo) are signing an agreement to establish a cooperative system for the Modadream Youth Account.

According to the agreement, the two institutions will join forces to ▲(Establish support system) build a cooperative system for project promotion ▲(Launch youth-tailored products) develop youth-tailored products with a mid-term withdrawal feature to reduce early termination of savings accounts and reflect preferential interest rates to enhance youth benefits ▲(Activate cooperation) strengthen promotion for youth enrollment from excellent local companies ▲(Encourage long-term employment) induce long-term employment of youth through analysis of savings status.

The Youth Account support project is Governor Park’s campaign pledge, aimed at supporting asset formation for youth in small and medium-sized enterprises (SMEs) to reduce wage gaps with large corporations and strengthen the competitiveness of local SMEs.

If a youth saves 200,000 KRW monthly, the province and city/county jointly save 200,000 KRW monthly, allowing the youth to receive a maturity amount of 9.6 million KRW after two years of continuous employment.

Additionally, for the first time nationwide, the asset formation savings product includes 1 to 2 mid-term withdrawal rights to prepare for sudden expenses of youth, and allows a savings deferment of up to three months regardless of reason if desired, enabling youth to maintain their savings until maturity without early termination by designing a tailored product.

Ye Gyeongtak, President of Gyeongnam Bank, said, “It is meaningful to sign an agreement with Gyeongsangnam-do and introduce youth-tailored financial products. We will continue to cooperate with Gyeongsangnam-do so that local youth and businesses can coexist. BNK Gyeongnam Bank will maintain continuous interest so that youth can take root in Gyeongnam and lead stable lives.”

Governor Park said, “I believe this is a meaningful occasion where Gyeongsangnam-do and BNK Gyeongnam Bank have joined hands to support youth asset formation and strengthen the competitiveness of local SMEs. Our province will make special efforts to reduce the gap between large and small and medium enterprises, create an environment where youth and companies can coexist, and stabilize the employment environment through job creation.”

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