Hanwha Life Supports Youth Independence Through Emergency Fund Project for Facility-Leaving Youth

Hanwha Life signed an agreement on the 9th to promote the 'Moms Care Youth Emergency Fund' project, which supports the independence of young people leaving orphanages, with the Social Solidarity Bank. Kim Young-sik, Head of Public Relations at Hanwha Life (fourth from the left), and Kim Yong-duk, CEO of the Social Solidarity Bank (fifth from the left)

[Asia Economy Reporter Oh Hyung-gil] Hanwha Life announced on the 9th that it will promote the 'Moms Care Youth Emergency Fund (飛上 Geum)' project in collaboration with the Social Solidarity Bank to support the independence of young people leaving orphanages.

This project provides 350,000 KRW per month for 10 months, totaling 3.5 million KRW, to young people who have left orphanages and are entering society, offering them hope for independence. Hanwha Life accepted applications from young people who have become or are about to become independent from orphanages, and selected 15 final candidates through document screening and interviews.

This year, seniors from the 1st and 2nd cohorts of the Youth Emergency Fund project will serve as life mentors. Mentors will also receive 100,000 KRW per month for 10 months. Additionally, through workshops, they will set themes such as culture, arts, volunteer activities, and self-development, and experience meaningful consumption firsthand over the course of a year.

Financial planning and financial coaching to establish a foundation for economic independence will also be provided, along with various programs such as special lectures on career and employment and visits to social enterprises.

Kim Young-sik, Head of Public Relations at Hanwha Life, said, "The Moms Care Youth Emergency Fund project, which started in 2018, is a social contribution activity that helps young people leaving orphanages achieve healthy independence and proper economic activities," adding, "We hope this will be an opportunity for them to directly experience meaningful consumption and develop economic independence capabilities."