"Did You Know This?"... From Free Insurance to Support for Qualification Exam Fees

When Soaring Living Costs Worry Your Balance
Finding Local Government Support Can Boost Savings Effectively

Rising prices are making it even harder for ordinary people to make ends meet. (Photo by Yonhap News)

There is no aspect of living costs that hasn't risen. Although the disposable income of all households increased by only 1.2% last year, food prices rose by 6.8%, a statistic that makes one shrink their shoulders even more.

Economic uncertainty and tight budgets may not improve immediately, but there are still ways to save on living expenses with a little attention and effort. The key is to carefully examine various policies of local governments and utilize welfare policies that suit you.

Yangcheon-gu in Seoul started the "Youth National Qualification Exam Fee Support Project" last year, providing 90 million KRW to 1,400 people. Due to the positive response, this year the support has been expanded to cover all national qualification exams. This project was introduced to help local youth preparing for employment focus on self-development without the burden of exam fees.

From this year, Yangcheon-gu will support exam fees for about 900 types of qualification tests. Last year, support was limited to national qualification exams such as language tests, Korean history proficiency tests, and exams administered by the Human Resources Development Service of Korea, but the scope has now been expanded to include national certificates under the Qualification Framework Act and the National Technical Qualifications Act.

As of January 1 this year, 1,000 young residents of Yangcheon-gu aged 19 to 39 are eligible. Applicants must be taking exams held this year and be unemployed as of the application date. The support amount is up to 100,000 KRW per person for the first application year only.

From this year, Yongsan-gu will provide moving expenses of up to 400,000 KRW per household to recipients of the National Basic Livelihood Security Program’s livelihood and medical benefits who newly move into Yongsan-gu or relocate within the district. This project, called "2024 Warm Yongsan Moving Expense Support," allows eligible basic livelihood security recipients to apply for moving expense support at their local community service center within 60 days after registering their move.

After paying the moving expenses upfront and submitting proof documents, the actual moving costs will be reimbursed once every two years. When applying, applicants must submit the moving expense application form, lease contract or usage confirmation, and proof of moving expense payment (moving company receipt).

Those excluded from this support include facility recipients and other medical benefit recipients, cases where the landlord is a parent or child of the applicant (including household members), those who have received similar support from other institutions, and those receiving residential relocation or moving expenses under the Land Compensation Act’s enforcement regulations for redevelopment projects. It is important to carefully review your situation and consult the district office in advance.

Similar programs also exist in Seoul city. Seoul already runs a project supporting brokerage fees and moving expenses up to 400,000 KRW per person for youth within a certain income bracket, and the Ministry of Land, Infrastructure and Transport also implements nationwide moving expense support policies. In Seoul, conditions include a rental deposit of 200 million KRW or less, monthly rent of 400,000 KRW or less, and household income at or below 150% of the median income, so it is advisable to check the details carefully first.

In Jung-gu, residents are enrolled in a life safety insurance program, with the limit for injury medical expenses increased to 500,000 KRW per person this year. Newly established funeral expenses can be supported up to 8 million KRW, and if a child is injured in a traffic accident while walking, treatment costs up to 1 million KRW are also provided. Most districts in Seoul, not just Jung-gu, offer life safety insurance, so if an accident occurs, it is best to check with your local area for compensation.

Additionally, many existing programs are being expanded or newly introduced, such as transportation support for seniors, allowance overlap for veterans’ benefits, infant taxi vouchers, new support for childcare service copayments, and expanded parental benefits. It is important to carefully check whether any of these apply to you and take advantage of them.