How to Build Up to 14.4 Million Won in 3 Years?

Recruitment for Youth Tomorrow Savings Account Participants in Mapo-gu
Targeting Youth Aged 19 to 34 with Household Income Between 50% and 100% of the Median Income
Eligibility Expanded for Lower-Income Brackets... Government Matching Support for Monthly Savings of 100,000 to 500,000 Won

Mapo-gu (District Mayor Park Kangsu) is accepting applications for new enrollees in the Youth Tomorrow Savings Account program until May 21.

The Youth Tomorrow Savings Account is an asset-building support initiative designed to help low-income working youth achieve economic independence and build stable assets by matching their savings up to three times the amount they deposit.

The program is open to working youth aged 19 to 34 whose household income falls between 50% and 100% of the median income standard.

If participants save between 100,000 and 500,000 won per month, the government provides a monthly support payment of 100,000 won. Upon maturity after three years (if the participant's total savings reach 3.6 million won), they will receive a total of 7.2 million won, including government support and interest.

Basic Livelihood Security recipients and those in the next-lowest income bracket with household incomes at or below 50% of the median income are eligible from ages 15 to 39, and the government support increases to 300,000 won per month.

Accordingly, at maturity after three years, participants will receive a total of 14.4 million won (if their own savings amount to 3.6 million won), plus interest.

To receive the government support, participants must maintain steady employment and deposit their own savings for three years, and must also fulfill requirements such as completing 10 hours of self-reliance capacity training.

An official from the district stated, "The upper limit for earned income eligibility has been raised from 2.3 million won to 2.5 million won this year," and added, "The number of applicants in Mapo-gu was 990 in 2023 and 1,688 in 2024, and we expect even more this year."

Applications can be submitted through the Bokjiro website or at the local community service center in the applicant's residential area.

For more information about the Youth Tomorrow Savings Account, contact the Mapo-gu Silppuri Welfare Division, the Asset-Building Support Call Center, or the Health and Welfare Counseling Center.

Park Kangsu, Mayor of Mapo-gu, stated, "The Youth Tomorrow Savings Account is a system that can provide practical help to young people struggling to build assets," and added, "Through this program, I hope young people will be able to proactively design and pursue their own futures."

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