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Busan to Recruit 6,000 Participants for the “Busan Youth Double Joy Savings Account” Starting August 10

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Busan Metropolitan City, led by Mayor Chun Jae-soo, announced that it will begin recruiting participants for the 2026 Busan Youth Double Joy Savings Account on August 10 to help working young people build a foundation for financial independence.

Launched in 2022 to support young people in planning a stable future, the Busan Youth Double Joy Savings Account attracted considerable interest last year, with 13 applicants competing for each available place during the 2025 recruitment period.

Under the program, when a young person saves KRW 100,000 per month for two or three years, Busan Metropolitan City contributes an equal amount. At maturity, participants can receive accumulated savings of up to KRW 7.2 million plus interest, helping them build a substantial lump sum.

Eligible applicants are working young people aged 18 to 39 who, as of the announcement date of August 3, are registered residents of Busan. A total of 6,000 participants will be recruited.

Applicants must have been born between January 1, 1986, and December 31, 2008. Their income must be no more than 150 percent of the median income for young people, as determined by the applicant’s health insurance premium payments.

The applicable monthly health insurance premium thresholds are KRW 138,780 for employee subscribers and KRW 68,641 for locally insured subscribers.

Working young people may apply if they are employee subscribers enrolled in at least one of the four major social insurance programs, self-employed, or otherwise engaged in employment. Daily workers may also apply if they worked a combined total of at least 20 days during the month preceding the announcement and the month of the announcement.

Beginning in 2026, the recognized grounds for special early termination have been expanded from the participant’s pregnancy or childbirth to include the participant’s spouse giving birth. This change ensures that participants who must terminate their accounts early due to unavoidable circumstances, including financial hardship, can still retain the matching support. The program also strengthens young people’s financial capabilities by providing one-on-one customized financial counseling in partnership with the Busan Credit Guarantee Foundation, offering solutions to concerns involving consumption, spending, and debt management.

Young people wishing to participate may complete and submit an online application and related forms without supporting documents through the Busan Youth Double Joy Savings Account website at https://www.boogi2.kr from 9:00 a.m. on August 10 to 6:00 p.m. on August 21.

Final participants in the Busan Youth Double Joy Savings Account are scheduled to be selected on October 2 through a random drawing and eligibility review. Selected participants may begin making their first deposits in October after signing an agreement.

Applicants may check the final selection results individually through the Busan Youth Double Joy Savings Account website at https://www.boogi2.kr. For further information about the program, inquiries may be directed to the dedicated telephone counseling center at 1833-3044 or submitted through the one-on-one inquiry board on the website.

Mayor Chun Jae-soo said, “We have worked to ensure that young people can continue receiving stable support even as their life stages and financial circumstances change during the process of building assets.” He added, “Busan Metropolitan City will continue providing practical policy support so that young people can prepare for their future in Busan.”