Military Mutual Aid Association Expands 'Hope Plus Project' for Junior Officers' Financial Stability

The Military Mutual Aid Association is expanding the ‘Hope Plus Project’ for junior officers. The support target has been broadened, and the application process has been simplified.

According to the Military Mutual Aid Association on the 28th, the ‘Hope Plus Project’ is a welfare program designed to help junior officers achieve ‘financial stability’ so they can fully focus on their military service. It has been in effect since July 1 and provides support such as ▲personal rehabilitation guidance and cost assistance, ▲living expense loan support, and ▲financial planning consulting for junior officer members.

The personal rehabilitation cost support has expanded its target from junior officers with less than 5 years of service to those with less than 10 years. Benefits are now available to sergeants, captains, and civilian employees at grade 7 or below. The Military Mutual Aid Association has contracted with a law firm specializing in rehabilitation to assist members conveniently from personal rehabilitation consultations to court rehabilitation applications, and supports personal rehabilitation costs up to 1.1 million KRW (including VAT).

The living expense loan support process has been simplified. Previously, unit commanders recommended applicants, and each military branch selected recipients through screening, but now individuals can apply directly through the website. The eligibility has been expanded from junior officers with less than 5 years of service to those with less than 10 years. The loan amount was previously up to 5 million KRW per person with a 3-year term, but from August 25, it has been adjusted to allow loans up to 10 million KRW per person with a 5-year term.

Financial consulting has expanded its target from junior officers to all active-duty members. Professional counselors holding financial certifications provide services ranging from basic financial planning consultations to specific solutions such as lump-sum savings or retirement planning. Additionally, the Military Mutual Aid Association ensures that financial planners strictly adhere to professional ethics by conducting ‘clean consultations’ that do not promote (solicit subscriptions for) financial, insurance, or real estate products from specific companies, thereby providing high-quality financial consulting to members.

Jung Jae-gwan, Chairman of the Military Mutual Aid Association, said, “We are promoting the Hope Plus Project to help members achieve financial stability so they can focus more on their military service,” and added, “We will continue to actively reflect members’ opinions to develop member-friendly welfare programs and make multifaceted efforts to provide better benefits.”