Daejeon City Opens Recruitment for New Participants in Youth Tomorrow Savings Account Program

Applications Accepted from May 1 to 21... Up to 14.4 Million Won and Interest Paid After 3 Years

Youth Tomorrow Savings Account Project / Daejeon City

Daejeon City announced that it will recruit new participants for the 'Youth Tomorrow Savings Account' from May 1 to 21.

Youth workers aged between 15 and 39 with a residence in Daejeon City, whose household income is at or below 100% of the median income standard, are eligible to apply. Selection will be made based on income, age, and other criteria.

Youth in the lower income bracket (below the second-lowest income level) aged 15 to 39 with monthly earned or business income of at least 100,000 KRW can apply. When saving their own contribution of 100,000 KRW, they will receive government support of 300,000 KRW.

Youth exceeding the lower income bracket aged 19 to 34 with monthly earned or business income exceeding 500,000 KRW but not exceeding 2,300,000 KRW can apply. When saving their own contribution of 100,000 KRW, they will receive government support of 100,000 KRW.

Youth selected as participants must maintain employment during the 3-year savings period, complete self-reliance capacity training, and submit a fund usage plan to receive up to 14.4 million KRW plus interest.

Applicants can apply by bringing required documents such as a certificate of employment to the Welfare Road website or the local administrative welfare center. Those who have participated or are scheduled to participate in similar asset formation support programs provided by the national or local governments are not eligible.

Min Dong-hee, Director of Welfare at Daejeon City, stated, “We will do our best to help low-income youth residing in Daejeon City prepare basic funds through the Youth Tomorrow Savings Account program and achieve early self-reliance.”

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