Seizure Prevention Accounts Previously Created by Each Business Consolidated into 'Haengbokjikimi Account'

Ministry of Employment and Labor Announces Implementation on the 2nd

The Ministry of Employment and Labor will integrate the seizure protection accounts, which were separately operated in five projects including unemployment benefits and job-seeking promotion allowances, into a single 'Happiness Keeper Account' starting from the 2nd.

[Photo by Ministry of Employment and Labor]

The seizure protection account is used to prevent the seizure of various benefits (subsidies) paid by the state and public institutions and has been commonly used across all banks.

Until now, recipients of unemployment benefits, job-seeking promotion allowances, advance payments, industrial accident insurance benefits, and construction workers' retirement reserves had to open separate seizure protection accounts for each project. From now on, by opening just one Happiness Keeper Account, they will be able to receive payments from multiple projects through a single account.

Starting from the 2nd, the financial institutions participating in the integrated operation of the Happiness Keeper Account are nine in total: NongHyup Bank, Shinhan Bank, Woori Bank, Hana Bank, IBK Industrial Bank, BNK Busan Bank, BNK Gyeongnam Bank, local agricultural and livestock cooperatives, and the post office. SC First Bank will join from the 23rd. The number of participating financial institutions is expected to increase in the future.

Lee Yong-wook, Policy Planning Officer at the Ministry of Employment and Labor, said, "By opening just one seizure protection account, people will be able to receive payments from multiple projects in an integrated manner, making it more convenient for the public," and added, "We plan to continue actively improving areas that cause inconvenience to the public from the public’s perspective."