Geumcheon-gu (Mayor Yu Seong-hoon) announced that it will expand support for the eligibility of the Didim Seed Savings Account, which helps vulnerable children save a lump sum necessary for their independence.
Previously, only children in childcare facilities or under foster care were eligible to join, but starting this year, children from households receiving basic livelihood security benefits and lower-income families will also be included. Through this, it is expected that about 1,400 additional children can join, increasing from the existing 100 members.
The Didim Seed Savings Account is an asset-building support program where children or sponsors save a fixed amount monthly, and the government matches the savings up to twice the amount, with a maximum of 100,000 KRW. For example, if a child saves 50,000 KRW per month, the government adds 100,000 KRW, making a total of 150,000 KRW saved. However, overlapping support with the Kkumnarae Savings Account is restricted.
The accumulated funds can be used for the child's independence after turning 18, such as for tuition, employment, or housing, and after age 24, the funds can be used for any purpose.
Those wishing to newly enroll can apply by visiting their local community service center or online through Bokjiro.
Applications will be processed in cooperation with Shinhan Bank, and it is expected to take up to three weeks for the applicant to receive the savings account passbook.
Yu Seong-hoon, Mayor of Geumcheon-gu, stated, "I hope the Didim Seed Savings Account will provide practical help for children preparing for social advancement and independence," and added, "We will continue to spare no support for vulnerable children."
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