Gwangju City Recruits Participants for 'Cheongnyeon13(Il+Salm) Account' Program

Save 1 Million KRW in 10 Months, Get an Extra 1 Million KRW
620 Participants This Year... Online Applications Open Until the 3rd of Next Month

Recruitment Poster for Gwangju City Youth 13 (Work+Life) Account Participants. Provided by Gwangju City

Gwangju City will be recruiting the 10th round of participants for the “Youth 13 (Work+Life) Savings Account,” a program supporting a better life for working youth, from the 22nd until the 3rd of next month. This year, the number of participants has increased to 620, up from 610 in the 9th round last year.

This program is a representative youth financial asset-building support initiative in Gwangju City. It allows employed youth aged 19 to 39 to save 1 million KRW by depositing 100,000 KRW each month for 10 months, while Gwangju City provides an additional 1 million KRW, enabling participants to receive a total maturity amount of 2 million KRW plus interest.

Among the 610 participants last year, 601 received their maturity funds totaling 1.202 billion KRW (maturity rate of 98.5%). In addition, youth who participated in the financial competency enhancement program expressed high satisfaction with financial management and improvement of spending habits.

This year’s eligibility criteria require applicants to have their resident registration address in Gwangju as of the announcement date, to have been continuously employed for at least three months, and to have a monthly income (including tax) between 865,444 KRW and 2,870,416 KRW.

Youth wishing to apply can do so through the Youth 13 (Work+Life) Savings Account website until the 3rd of next month. All applicants who pass the document screening will be entered into a draw on the 10th of next month, and the process will be broadcast on the Gwangju Youth Center YouTube channel.

Participants will begin their first 100,000 KRW deposit in February and save a total of 1 million KRW over 10 months until November. Gwangju City plans to continue supporting youth financial competency through dropout prevention measures and financial education during the 10-month period. Detailed information can be found on the Gwangju City website’s notices/announcements, the Gwangju Youth Policy Platform, or the 13 Savings Account website.

Kwon Yunsuk, Director of Youth Policy, said, “Gwangju City will continue to do its best to make Gwangju a city of opportunity where youth can achieve their dreams through various policies supporting youth social advancement and economic independence,” adding, “We look forward to the active interest and participation of young people.”

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