[Asia Economy Reporter Park Hyesook] Bucheon City, Gyeonggi Province, is recruiting new subscribers for the 4th term of the Hope Savings Account II for households receiving housing and education benefits and the near-poverty class until the 29th.
The 'Hope Savings Account II' allows subscribers to save 100,000 KRW monthly for three years, with an additional 100,000 KRW of earned income tax credit from the government, enabling them to accumulate up to 7.2 million KRW plus interest as a lump sum.
Eligible applicants are households currently engaged in work with a median income of 50% or less (2,374,000 KRW for a four-person household) receiving housing and education benefits, as well as the near-poverty class. General households can also join if their income and property meet the near-poverty criteria.
Subscribers must continue working to maintain their subscription and complete education and case management counseling to strengthen self-reliance capabilities. Upon maturity and termination, they must submit documents proving that at least 50% of the earned income tax credit (government support fund) was used appropriately.
Those wishing to subscribe can apply by submitting the relevant documents to their local administrative welfare center or resident support center during the recruitment period; online applications are not accepted.
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