Geumcheon-gu Recruiting 341 Participants for 'Hope Double Youth Account'

Geumcheon-gu to Recruit 341 New Participants for the ‘Hope Double Youth Account’

Save 100,000 or 150,000 KRW Monthly for 2-3 Years and Receive an Equal Amount as Additional Savings

Apply at Local Community Service Centers by June 23

Geumcheon-gu (Mayor Yu Seong-hoon) is recruiting new participants for the ‘Hope Double Youth Account’ until June 23.

The Hope Double Youth Account is a program designed to help young people build assets so they can establish stable and concrete future plans and achieve independence.

If participants consistently save 100,000 KRW or 150,000 KRW monthly for 2 to 3 years, an additional 100% of the saved amount will be supported, allowing them to receive more than double the amount (including interest) upon maturity.

This year’s recruitment target is 341 people, an increase of 130 from last year. To extend benefits to more young people, the previous conditions?allowing only one participant per household and disqualifying applicants with debts over 50 million KRW?have been removed.

Eligible applicants are working youth aged 18 to 34 residing in Geumcheon-gu, whose personal income is 2.55 million KRW or less per month, and whose dependents (parents or spouse) have an annual income under 100 million KRW and assets under 900 million KRW.

Youth wishing to participate can submit their application form and required documents in person at their local community service center by June 23, or apply via mail or email. Application forms can be downloaded from the Geumcheon-gu Office website under the Notices and Announcements section.

Final participants will be selected on October 13 after document screening, income and asset verification, and credit checks. Applicants can check their status directly on the Seoul Welfare Foundation website. Savings will begin in November after signing an agreement with the Seoul Metropolitan Government.

The district plans to provide participants with financial education, one-on-one financial consulting, and preventive education on various financial damages such as real estate and investment fraud and voice phishing.

Yu Seong-hoon, Mayor of Geumcheon-gu, stated, “We hope the Hope Double Youth Account will help young people in Geumcheon-gu prepare funds and gain independence for their future, including housing, marriage, and entrepreneurship.”

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