Double Savings Support... Seoul City Supports Youth Preparing for Independence

Expected Support of 288 Million Won

The Seoul Metropolitan Government is stepping up to support 'preparing-for-independence youth' who are living in child care facilities or foster families and are approaching the end of their protection period, as a preliminary stage before becoming independent youth. They can prepare seed money for independence through the 'Didim Seed Bank' program. The program provides scholarships to save 50,000 KRW monthly for four years, and in addition, Seoul City and the government will match this amount with 100,000 KRW monthly, which is twice the savings, helping them accumulate 7.5 million KRW over four years.

On the 7th, Seoul City announced that it held a 'Didim Seed Bank Scholarship Support Agreement and Delivery Ceremony' at Seoul City Hall in the morning, attended by Mayor Oh Se-hoon, along with Hope Sharing People and the Seoul Social Welfare Community Chest.

The 'Didim Seed Bank' is a project that helps low-income children build assets to prepare lump sums necessary for independence, such as tuition, employment, and housing costs, and is also called the 'Child Development Support Account.' According to the agreement, the three organizations will provide a total of 288 million KRW in scholarships over four years to 120 pre-independence youth.

Mayor Oh said, "This public-private partnership sponsorship project is expected to serve as a stepping stone that significantly alleviates the difficulties faced by pre-independence youth when standing on their own in society," and added, "Seoul City will continue to strive to support pre-independence youth so that they can confidently take their place as independent members of society."