University Students from Orphanages Who Made Extreme Choices in Gwangju
Government Support Funds Remain in 'Didim Seed Bank Accounts'
"Withdrawal Difficult Due to Complex Procedures... Need for System Improvement and Reality Investigation"
[Asia Economy Reporter Hwang Sumi] It has recently been confirmed that government subsidies remained untouched in the Didim Seed Savings Accounts of young adults preparing for independence who took extreme measures in Gwangju. It is presumed that they were either unaware of the existence of the subsidies or faced difficulties withdrawing the funds. Some have pointed out the need for measures such as improving the usage methods of the accounts.
According to data received on the 25th by Rep. Han Jeong-ae of the Health and Welfare Committee from the Ministry of Health and Welfare, among 45,217 nationwide participants enrolled in the Didim Seed Savings Account program, the accumulated funds unclaimed despite maturity amount to 181.4 billion KRW.
The Didim Seed Savings Account is a type of asset-building support project provided by the government, designed to prevent the intergenerational transmission of poverty and foster responsible members of society. Specifically, a certain amount is deposited monthly into the account by low-income children, and the government matches this amount at twice the deposit (up to 100,000 KRW per month). From age 18, the account can be terminated upon maturity for specific purposes such as tuition or housing costs. After age 24, the full amount can be withdrawn without restrictions.
It is known that young adults preparing for independence who recently took extreme measures in Gwangju also used this account.
Earlier, A (18), who left an orphanage and entered university earlier this year, living in a dormitory, was found dead on the 21st of last month at a university in Gwangju. Police investigations revealed that he had used most of the approximately 7 million KRW in subsidies he received upon leaving the orphanage for university tuition and dormitory fees. It was also reported that before the incident, he told an orphanage official, "I have become an adult and need to stand on my own, but I am afraid." A note he left in the dormitory reportedly contained brief messages such as "There are still many books I haven't finished reading."
Then, on the 24th of the same month, B (19), attending a university in Gwangju, was found dead in an apartment. B, who had parents with disabilities, had lived in an orphanage and moved last year to an apartment where her father resided. They reportedly experienced financial hardship while receiving basic living subsidies.
The accounts of these two individuals, who faced economic difficulties, still held 11.65 million KRW and 5.6 million KRW respectively, including accumulated funds and government subsidies, all unwithdrawn.
The reason they did not terminate their matured accounts is presumed to be due to difficulties in withdrawing the funds. To withdraw, it is known that one must bring supporting documents, visit the local government office to obtain approval, and then request payment again at the bank.
Along with these complicated procedures, the fact that the account ownership is registered under the local government is also cited as a problem. A lawmaker stated, "The fact that the Didim Seed Savings Account is registered under the local government rather than the actual owner, the protected child, violates the Real Name Financial Transaction Act," adding, "It is a serious issue that young adults taking their first steps into society cannot access their own funds in a timely manner due to incorrect administrative procedures." She emphasized the need for a comprehensive investigation and improvement measures for the entire program.
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