We have checked the application schedule, method, and support recipients for the 2024 Youth Tomorrow Savings Account.
The Youth Tomorrow Savings Savings Fund, which we will tell you about today, is a service supported by the government to prevent working poor young people from falling into livelihood recipients and to build assets for working middle-class young people to settle down in society. In 2024, the standards will be relaxed and more young people will be able to receive the benefits, so I hope that many people will apply and receive the benefits.
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Youth Tomorrow Savings Account
If you save 100,000 won per month, the government will provide support by accumulating 100,000 won per month for 3 years. After three years, the government subsidy of 3.6 million won is added to the 3.6 million won saved, bringing the total amount to 7.2 million won. Deposit interest is additionally added to this.
If you are a recipient of basic livelihood security and your working income is more than 100,000 won per month, you can receive a government subsidy of 300,000 won per month at a 1:3 ratio. In that case, it is a very advantageous system because the principal amount is 3.6 million won plus the subsidy of 10.8 million won, for a total of 14.4 million won.
2024 Youth Tomorrow Savings Account Support Target
We support young people who meet all four qualifications below.
Ages 19 to 34 at the time of application
However, recipients and those in the next lowest income bracket can apply from ages 15 to 39.
Earned income and business income are less than 6 million won and 24 million won per year.
Monthly income: 500,000 won ~ 2.2 million won or less
Below 100% of standard median income
However, beneficiaries and second-income earners can apply if they are currently working and have an income of 100,000 won or more per month.
The standard median income is the standard used to select recipients of various government-supported support policies.
Median income refers to the median income value when national income is listed in order.
Base Median Income
4. Property standards: KRW 350 million for large cities, KRW 200 million for small and medium-sized high schools, and KRW 170 million for rural areas.
5. Instructions on documents to be submitted when applying for Youth Tomorrow Savings Account
Information on documents to be submitted when applying for a Youth Tomorrow Savings Account.hwp
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How to apply for Youth Tomorrow Savings Account
You can apply in person by visiting the administrative welfare center in your jurisdiction with your ID card, or
You can apply online by searching for “Youth Tomorrow Savings Account” on the Internet site Bokjiro (http://www.bokjiro.go.kr).
You can apply at any community center, even if it is not your address.
2024 Youth Tomorrow Savings Account Recruitment Schedule
2024.5.1 (Wed) ~ 2024.5.21 (Tue)
Checklist regarding Youth Tomorrow Savings Account
Telephone inquiry
Asset Formation Support Call Center 1522-3690
Health and Welfare Counseling Center 129
Bokjiro Counseling Center 1566-0313