Bucheon City Begins Second Round of Hope Savings Account (I) Applications... Up to 14.4 Million Won in Support

Bucheon City in Gyeonggi Province will be accepting applications for the second round of new enrollees in the 'Hope Savings Account (I)' program from June 2 to June 13, 2025, to support the self-reliance of households receiving livelihood or medical benefits who are currently working.

The Hope Savings Account (I) is an asset-building support program for benefit recipients with earned or business income. If a participant saves at least 100,000 won per month (up to 500,000 won), the government will provide an additional monthly earned income incentive of 300,000 won.

If participants meet the requirements for three years and close the account at maturity, they can receive up to 14.4 million won, including their own savings of 3.6 million won and government support funds of 10.8 million won, plus statutory interest. To receive the support funds, participants must maintain employment or business activities for three years and fulfill all conditions, including monthly contributions and withdrawal from livelihood or medical benefit status.

Eligible applicants are households currently receiving livelihood or medical benefits who have earned or business income. Applications can be submitted at the local administrative welfare center corresponding to the applicant's registered address.

An official from Bucheon City stated, "Through this program, we expect that recipients with the will to become self-reliant will be able to stably accumulate a lump sum of money and establish a foundation for economic independence even after exiting the benefit system."

For more information, please contact the Bucheon City Call Center (032-320-3000), the Asset-Building Support Program Call Center (1522-3690), or the welfare team at the relevant administrative welfare center.

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