Hwaseong City Launches "Yeonjigonji Savings Account" Offering 30% Matching Funds for Young People Preparing for Marriage

Receive a Total of 9.36 Million Won by Saving 300,000 Won per Month for Two Years

Hwaseong City in Gyeonggi Province announced on the 2nd that it will implement the "Yeonjigonji Savings Account," a program designed to help young people prepare funds for marriage.

This savings account is a marriage encouragement matching account established to alleviate the financial burden young people face during the process of preparing for marriage. If an account holder saves up to 300,000 won per month, the city will contribute an additional 90,000 won per month, which is 30% of the saved amount. After opening the account, if the participant completes a premarital education program and gets married within two years, they can receive up to 9.36 million won, which includes both their own savings and the city's matching contributions.

If the account holder does not get married within two years of opening the account, they will not receive the city’s matching contribution. However, even if they get married within one year, they can receive the full city contribution as long as they maintain the account for two years. Previously, in January, the city completed consultations with the Ministry of Health and Welfare to establish a new social security system for this project.

Eligible applicants are workers who are planning to get married and are between the ages of 19 and 39, residing in Hwaseong City as of the announcement date (the 2nd). A total of 700 people will be selected. The application period is from the 2nd to the 31st. Interested individuals can apply through the Hwaseong City integrated reservation system or by scanning the QR code on the promotional poster. Applicants must submit a resident registration certificate, a certificate of unmarried status, and documents verifying employment and income.

The city explained that this project is the nation’s first model to systematically support the marriage preparation process by combining financial assistance with a premarital education program. The project was developed based on an idea proposed by a citizen in last year’s "Hwaseong City Low Birthrate Policy Proposal Contest."

Jung Myunggeun, Mayor of Hwaseong, said, "I hope this project will provide at least some help to young people who are hesitant to get married due to financial burdens," adding, "We will continue to implement various support policies to help young people plan for their future and take on new challenges."

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