Receive 2 Million KRW by Saving 100,000 KRW per Month for 10 Months
Final Participants Selected Through Public Lottery... Competition Rate 7.9 to 1
Gwangju city officials are publicly drawing lots for participants of the 'Youth13 (Work+Life) Account' using a random selection program on the 10th. Provided by Gwangju City
Gwangju City announced on the 12th that it had selected 620 participants for the 10th round of the 'Youth 13 (Work+Life) Account' program, which supports a better life for working youth, through a public lottery held on the 10th. This round saw 4,901 applicants, resulting in a competition rate of 7.9 to 1.
The 'Youth 13 (Work+Life) Account' is a financial asset-building support program where youth save 1 million KRW by depositing 100,000 KRW each month for 10 months, and Gwangju City provides an additional 1 million KRW in support. Since launching the program in 2018, the city has supported 3,830 young people up to last year.
The public lottery was conducted using a random selection program. The entire process was broadcast live on the Gwangju Youth Center YouTube channel to ensure transparency. Final selections can be checked on the Gwangju City website, the Gwangju Youth Integrated Platform, and the Youth 13 (Work+Life) Account website, and participants will also receive individual text notifications.
Participants will begin their first monthly deposit of 100,000 KRW in February after signing the agreement. Those who save for 10 months until November will receive the additional 1 million KRW support from Gwangju City, along with interest, as a maturity payment in December. In addition, participants can join educational programs aimed at enhancing financial literacy, receiving basic savings education and tailored financial counseling and advice.
Kwon Yunsuk, Director of Youth Policy, said, "We hope this program will help young people strengthen their financial capabilities for economic independence and prepare for their future with stability. We will continue to implement various policies to support youth social advancement and economic independence, doing our utmost to make Gwangju a city of opportunities where young people can realize their dreams."
Meanwhile, among this year's applicants for the 'Youth 13 (Work+Life) Account,' 25% were male and 75% were female, similar to last year. The main age group was 25 to 29, accounting for 37%. Employment types were 74% regular positions and 22% temporary positions, including part-time jobs.
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