Let’s learn about the qualifications, benefits, and application method for the “Double Hope Youth Passbook” implemented by Seoul City.
Find out the eligibility and application method for the Seoul City Hope Double Youth Passbook _ Q & A
1. What is Seoul City’s “Double Hope Youth Account”?
“Double Hope Youth Account” is an account in which the Seoul Metropolitan Government additionally deposits an amount equal to the amount accumulated every month to support housing, marriage, education, start-up, and savings of young people working in various parts of the country with addresses in Seoul. This is an account that allows you to receive up to 10.8 million won plus additional interest from the bank after one year.
2. Eligibility to apply
The qualifications for applying for the “Double Hope Youth Account” are as follows.
①Registered as a resident in Seoul on January 1, 1989. ~ ‘06.12.31. young man born during
②’24.5.20. Young people who have been working for more than 3 months or ‘23.5.21. ~ ‘24.5.20. Young people who worked for more than 3 months during the period
③ ‘23.6.1. ~ ‘24.5.31. Young people whose average monthly earned income before tax is 2.55 million won or less
④’23.6.1. ~ ‘24.5.31. Young people whose parents (single) or spouse (married) have less than KRW 900 million in assets and whose monthly average pre-tax income is less than KRW 8.34 million
(Recognized for 1 month if working more than 10 days per month)
Regarding the calculation of the working period, one month’s work is recognized when working more than 10 days a month, and working hours are irrelevant. Work cannot be recognized at a workplace that is not registered as a business, and the type of work is not relevant, but it must be possible to submit supporting documents for the notice.
<Income verification data>
(4 major insurance subscribers) National Health Insurance Monthly Remuneration Amount
(Self-employed) 2023 comprehensive income tax return
(Workers not covered by the 4 major insurance policies) 2023 Withholding Tax Receipt
<Persons excluded from application>
National work scholarship recipients, workers at unregistered workplaces (private tutors, closed businesses, etc.), active duty, supplementary service, military service substitute industrial technical personnel and professional research personnel, young people receiving the Seoul Youth Rent Support Project or the Seoul Youth Allowance (can apply after the allowance ends)
* Possible for military personnel, but some, such as those working as tutors who can prove their income, are eligible.
3. Support details
If you are selected as a participant in the “Double Hope Youth Account” and save 150,000 won per month for 3 years as shown in <Table 1> below, you can receive up to 10.8 million won and additional bank interest after 3 years.
<Table 1> Double Hope Youth Bankbook Support Amount
Category Remarks
Own savings of 150,000 won – separate bank interest payment
– Matching support amount not accumulated for non-payment month
– Early termination and differential payment of matching support when transferring to another city
Marketing support amount: 150,000 won
Total savings for 2 years: 7.2 million won
3 years 10.8 million won
The matching support fund will be deposited into a separate bank account after checking whether your savings have been accumulated, and the unpaid monthly savings will not be paid later. Therefore, if you do not accumulate your savings in the current month, the matching support fund for that month will not be paid, so if you apply for automatic transfer, be careful not to miss the payment due to insufficient balance. You must do it.
When signing up, you can select a usage plan among housing, education, starting a business, or marriage. You can change the purpose of use upon payment at maturity. The additional savings you receive must be used according to the purpose of use, and you can use your savings as you wish.
4. Application period and application method
The number of applicants is 10,000 in total in Seoul (different by autonomous district), and the application period is 2 weeks from ‘24.6.10 (Mon.) to 6.21. (Fri.) 18:00. You can apply online or in person.
Deadline for application is ‘24.6.21. For both online and in-person applications, applications can only be made until 18:00 during working hours. Modifications to the submitted documents are possible only during the application period, and modifications cannot be made after the application period ends.
5. Participant selection method and selection period
Final participants will be selected in order of highest score according to the selection evaluation table, including the applicant’s period of residence in Seoul, assets, and age. The final participant announcement date is Tuesday, October 15, 2024, and the announcement schedule may be subject to change.
6. Precautions
If supplementation is required, such as missing required documents, the application will be excluded without requesting additional supplementary documents, so be careful not to omit any required information or submitted documents when applying. Since the application will be excluded even if contact is not possible, please contact the call center (1688) for changes to address, phone number, etc. You must register change details through -1453).
During the contract period, you must maintain resident registration in Seoul, maintain savings and work once a month for at least 50% of the contract period, and complete financial education at least once a year.