"Save for 3 Years, Double Your Principal"... Seongbuk District Recruiting 'Hope Double Youth Savings Account' Participants
Applications Accepted from June 9 to 20 for Young People Aged 18 to 34
Build Savings up to 10.8 Million Won
Seongbuk District in Seoul will be recruiting new participants for the "2025 Hope Double Youth Savings Account" from June 9 to 20.
The "Hope Double Youth Savings Account" is an asset-building support program in which working young people save 150,000 won each month for either two or three years, and the Seoul Metropolitan Government matches the same amount. At maturity, participants receive double their principal plus interest. If a participant saves for three years, their own savings of 5.4 million won will be matched by 5.4 million won from the city, resulting in a total of 10.8 million won (excluding interest).
This year, the total number of participants to be recruited across Seoul is 10,000. Eligibility is limited to residents of Seongbuk District as of May 26, 2025, who are between the ages of 18 and 34 (born between 1990 and 2007), and who have worked for at least three months within the past year or are currently employed. Applicants must have a pre-tax monthly average earned income of 2.55 million won or less; their legal guardian (parent or spouse) must have an annual income of less than 100 million won (pre-tax monthly average of 8.34 million won) and total assets of less than 900 million won. Young entrepreneurs and freelancers are also eligible to apply.
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Applications are accepted online through the Seoul Welfare Foundation’s asset-building support project website (account.welfare.seoul.kr). The final list of selected participants will be announced on the Seoul Welfare Foundation website on November 4, 2025. In addition to the matched savings support, selected participants will also receive access to various programs, including financial education and financial consulting.
For more information, contact the Seoul Hope Double Youth Savings Account Call Center (1688-1453) or use the "Inquiry" board on the website.
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