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Busan City to Recruit New Applicants for the “Youth Tomorrow Savings Account” Program

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□ The Busan Metropolitan City (Mayor Park Heong-joon) announced that applications for the “Youth Tomorrow Savings Account” will be open for 20 days from May 2 to May 21.

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□ The Youth Tomorrow Savings Account is a welfare program designed to help working youth save up a large lump sum. Participants who save KRW 100,000 per month for three years can receive up to KRW 10.8 million in earned income incentives.

○ Youth from low-income households (below the second-lowest income bracket) can receive up to KRW 300,000 per month in incentives, while those in slightly higher income brackets (above second-lowest) can receive KRW 100,000 per month.

○ Upon program completion, participants receive matched savings, interest, and additional support depending on their policy eligibility — amounting to over double their own savings.

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□ Eligibility requirements include the following:

○ For youth in households below 50% of the median income:
  – Aged 15–39,
  – Must have earned income or business income of at least KRW 100,000/month

○ For youth in households between 50%–100% of the median income:
  – Aged 19–34,
  – Must have earned or business income between KRW 500,000 and KRW 2.5 million/month

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□ Interested applicants must apply at their local eup/myeon/dong administrative welfare center (based on resident registration) or through the Bokjiro website (www.bokjiro.go.kr).

○ Final selection will be announced in August.

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□ For more information, youth can use the 24/7 chatbot “Self-Reliance Honey Jar” (answerny.ai/chatbot/projects/bwp/busan.html).

○ This chatbot recommends relevant programs such as the Youth Tomorrow Savings Account and offers detailed consultation, receiving high satisfaction from users.

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□ Savings accumulated through the program over three years may be used for business start-ups, education, housing, and other self-reliance goals.

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□ Jeong Tae-gi, Director General of the Busan Welfare Bureau, stated,
“The Youth Tomorrow Savings Account is a meaningful project that provides young workers with real opportunities to build financial independence and prepare for a stable future.
We encourage many young people in Busan to take interest and participate.”