Gyeonggi-do Increases Self-Reliance Settlement Fund for 'Aged-Out Children' Over 18 to 15 Million Won

[Asia Economy (Suwon) = Reporter Lee Young-gyu] Gyeonggi Province has raised the self-reliance settlement fund for young adults aged 18 and over who are preparing for independence after leaving child welfare facilities or completing family foster care, from the previous 10 million won to 15 million won, the highest level nationwide, to support their social adaptation and independence.

The self-reliance settlement fund is financial support for young adults aged 18 and over who have lived in child protection facilities in the province for more than two years (including combined protection periods) and have lived for at least six months before their scheduled discharge in childcare facilities, group homes, or foster families.

The province announced on the 26th that it has increased the amount of the self-reliance settlement fund from 5 million won last year to 10 million won, and now to 15 million won this year. Eligible recipients can receive the fund upon completion of the first (10 million won) and second (5 million won) mandatory education sessions. This year, there are 410 recipients for the first session and 210 for the second.

The province structured the mandatory education, held 3 to 4 times a month until the end of the year (35 sessions for the first and 17 for the second), to help self-reliant youth with economic and financial knowledge, consulting on the use of the settlement fund, and housing management. For detailed inquiries, contact the Gyeonggi Province Self-Reliance Support Agency or the relevant city, county, district office, or town, township, and neighborhood administrative welfare centers.

A provincial official stated, "We hope the self-reliance settlement fund will help alleviate the economic difficulties of young adults preparing for independence who must stand on their own after protection ends with a sense of uncertainty."

Meanwhile, through the Gyeonggi Province Self-Reliance Support Agency, the province is conducting systematic monitoring of 2,000 young adults within five years of leaving child welfare facilities in the province. Additionally, 240 self-reliant youth have been separately selected to receive integrated self-reliance support services covering six areas of welfare services, including employment, housing, and economic support.