Yeonggwang-gun Selects 42 Youth Hope Stepping Stone Account Recipients for Support

[Asia Economy Honam Reporting Headquarters Reporter Jeon Seong] Yeonggwang-gun, Jeollanam-do (Governor Kim Jun-seong) announced on the 26th that it has selected and will support 42 people for the ‘Youth Hope Stepping Stone Savings Account Project’ to help working youth prepare for a stable future and achieve independence.

This project recruited a total of 60 people, expanding the eligibility age to between 18 and 45 years old as a county-led initiative in addition to the 11 people supported by provincial funds, with an additional 49 people supported by county funds.

The county announced the recruitment of 60 people from December 26 last year to the 10th of last month and received 74 applications.

After document screening and income and property verification, a final 42 people who met all eligibility criteria were selected.

The Youth Hope Stepping Stone Savings Account is a project where youth save 100,000 KRW monthly, and the county deposits an additional 100,000 KRW, paying out double the saved amount of 7.2 million KRW plus interest upon maturity after three years.

It also greatly supports the establishment of a foundation for youth independence, such as startup funds, marriage funds, housing costs, and student loan repayments.

A county official said, “We hope this project will not only reduce the economic burden on youth but also steadily accumulate hope, becoming a stepping stone to help youth take off.”