Youth Leap Account Applications Open Until November 14... "Final Enrollment in December This Year"

The Korea Inclusive Finance Agency will be accepting applications for the November enrollment period of the Youth Leap Account from November 3 to November 14.

According to the agency on October 29, the Youth Leap Account can be opened each month by applying through the mobile apps of participating banks (KB Kookmin, Shinhan, Hana, Woori, NongHyup, IBK, Busan, iM Bank, Gwangju, Jeonbuk, and Gyeongnam Bank), after completing the eligibility verification process.

For those who have been notified as eligible, single-person households can open an account from November 20 to December 12, while households with two or more people can do so from December 1 to December 12. Account opening is only available on business days.

The Youth Leap Account is a savings product designed to support young people in building mid- to long-term assets. Participants can freely deposit up to 700,000 won per month for five years, and the government provides an additional monthly contribution based on the amount deposited. Upon maturity, participants receive both bank interest (with an annual rate of 4.5% to 6.0%) and tax exemption benefits. As of October 28, a cumulative total of 2,423,000 accounts have been opened, surpassing 2.4 million participants.

The final enrollment period for the Youth Leap Account will be in December 2025, after which new enrollments will be discontinued. However, young people who have already opened an account will continue to receive benefits for five years from the date of enrollment until maturity. The Youth Future Savings Account is scheduled to launch in June 2026.

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