Yeonggwang-gun Recruiting New Applicants for 'Asset Formation Support Project'

[Yeonggwang=Asia Economy Honam Reporting Headquarters reporter Lee Jeonseong] Yeonggwang-gun, Jeollanam-do announced on the 27th that it is recruiting new applicants for the asset-building support project (Hope Savings Account I, Hope Savings Account II, etc.) to support the self-reliance and poverty alleviation of working low-income earners.

The first application period for Hope Savings Account (I), Tomorrow Savings Account, and Youth Hope Savings Account is from the 1st to the 18th of next month, and the first application period for Hope Savings Account (II) and Youth Savings Account is from the 1st to the 19th of next month. Applications can be submitted at the local eup/myeon offices (for Hope Savings Account (I, II), Youth Hope Savings, Youth Savings Account) and the Yeonggwang Regional Self-Support Center.

The eligibility for Hope Savings Account I is households receiving livelihood or medical benefits whose total earned income or business income of the entire household at the time of application is 60% or more of 40% of the median income standard. After saving for three years and exiting livelihood or medical benefits, government support funds can be received.

The eligibility for Hope Savings Account II is households currently engaged in work, with recognized income at or below 50% of the median income standard, including housing and education benefit households and near-poverty households. After saving for three years and completing case management and self-reliance capacity education, government support funds can be received.

The eligibility for Tomorrow Savings Account is applicants who have participated faithfully in the self-support work project group continuously for more than one month at the time of application. After saving for three years and exiting benefits or entering the general labor market for employment or entrepreneurship, government support funds can be received.

The eligibility for Youth Hope Savings Account is working youth (aged 15 to 39) receiving livelihood benefits whose household recognized income is at or below 30% of the median income standard. After saving for three years and exiting livelihood benefits, government support funds can be provided.

The eligibility for Youth Savings Account targets youth (aged 15 to 39) receiving housing and education benefits or near-poverty households working in the general labor market with recognized income at or below 50% of the median income standard. After saving for three years and completing nationally certified qualifications and self-reliance capacity education, government support funds can be provided.

After applying, eligibility can be confirmed through income and property investigation, and inquiries can be made to the Social Welfare Division or the welfare officer at the respective eup/myeon office.