Youth Leap Account Sign-ups Surpass 1 Million "Additional 4-5 Trillion Won from Youth Hope Savings"

Vice Chair Kim So-young Delivers Lecture

The number of subscribers to the 'Cheongnyeon Doyak Account,' introduced by the Yoon Seok-yeol administration to help young people build assets, has surpassed 1 million. Financial authorities expect that about 4 to 5 trillion won from the maturity proceeds of the Youth Hope Savings will flow into the Cheongnyeon Doyak Account through the linked subscription system.

On the 1st, Kim So-young, Vice Chairman of the Financial Services Commission, stated at the 'Cheongnyeon Doyak Account 1 Million Account Opening Commemorative Lecture' held at Industrial Bank of Korea in Jung-gu, Seoul, targeting young workers in small and medium enterprises and early career individuals, "As of the end of March, 2,314,000 young people applied to subscribe to the Cheongnyeon Doyak Account, and 1,059,000 have tentatively opened accounts."

He also anticipated that about 4 to 5 trillion won from the maturity proceeds of the Youth Hope Savings will flow into the Cheongnyeon Doyak Account through the linked subscription system, adding, "This shows the interest of the younger generation in mid- to long-term asset formation."

Vice Chairman Kim also announced that major banks will start operating the 'Cheongnyeon Doyak Plus Savings' from that day, allowing young people who temporarily deposit the maturity proceeds of the Youth Hope Savings into the Cheongnyeon Doyak Account to subscribe. The Cheongnyeon Doyak Plus Savings, first launched by Industrial Bank of Korea on the 19th of last month, is a product offering up to 5.0% annual interest for a one-year maturity, and major banks and regional banks are preparing to launch it following NongHyup Bank.

Vice Chairman Kim said, "Currently, young workers in small and medium enterprises who meet the subscription requirements for the Cheongnyeon Doyak Account can subscribe concurrently with the Youth Tomorrow Filling Deduction, and young people receiving only parental leave pay or military personnel receiving only military pay can also subscribe," adding, "We will continue to seek ways to strengthen asset formation support for young workers in small and medium enterprises and others."

Meanwhile, at the lecture, influencer Kwak Ji-hyun (25), who saved 200 million won in six years, also attended and shared her own asset formation know-how. As a subscriber to the Cheongnyeon Doyak Account, she guided on how to save according to individual income levels and how to efficiently keep household accounts, stating, "I expect that through the Cheongnyeon Doyak Account, the next asset formation goals can be achieved faster."