Gyeonggi Province to Provide Monthly 142,000 Won Support to 3,000 Young Workers through 'Worker Savings Account' Program

Gyeonggi Province is recruiting 3,000 participants for the Youth Worker Savings Account program.

The Gyeonggi Youth Worker Savings Account is a program in which participating young workers save 1 million won per month for two years, totaling 2.4 million won. Gyeonggi Province will add an additional 142,000 won per month, so that at maturity, participants will have accumulated a lump sum of 5,808,000 won (including 1 million won in local currency).

On July 31, Gyeonggi Province announced that it will recruit 3,000 participants for the "Gyeonggi Youth Worker Savings Account" from August 1 to August 18, in order to boost young workers' motivation and help them build a foundation for self-reliance.

Gyeonggi Provincial Government

Eligible applicants are workers aged 19 to 39 who reside in the province as of July 25 and belong to households with an income at or below 120% of the median income.

Part-time workers and self-employed individuals may also apply. However, the Youth Worker Savings Account cannot be combined with other asset-building support programs such as the National Youth Tomorrow Savings Account or similar programs run by other local governments, such as the Seoul Hope Plus Youth Account.

Kim Sunhwa, Director of Youth Opportunity Division at Gyeonggi Province, said, "The Gyeonggi Youth Worker Savings Account is a policy designed to help young people who are just starting out in society build their assets," and added, "Gyeonggi Province will work together to support young workers in preparing for a stable future and achieving independence."

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