At Maturity, Youth Can Receive
Twice the Amount Saved:
10 Million KRW Prepared
Geochang-gun, Gyeongnam Province announced on the 18th that it will pay the matured savings to 100 participants of the ‘Youth Stepping Stone Account’ 2023 program.
The ‘Youth Stepping Stone Account’ is a project independently promoted by Geochang-gun since 2022 to support young people’s asset formation and help them achieve economic independence and a stable life. If both the youth and Geochang-gun each save 200,000 KRW monthly for two years, the youth can accumulate 10 million KRW, which is double the amount they saved, upon maturity.
Since 2022, the county has selected and supported 100 participants annually, and this marks the second fruition after the first group matured and terminated their accounts in 2022.
A survey on the usage plans of the savings by the first maturity group showed the following order: housing expenses (61.1%), others (childcare costs, loan repayment, etc. 22.2%), startup funds (8.9%), job-seeking activities (5.6%), and marriage funds (2.2%). This demonstrated that the ‘Youth Stepping Stone Account’ project has been a practical help in establishing a living foundation for young people.
County Governor Gu In-mo said, “I hope that the small amounts of money steadily saved through this project will become a stepping stone that opens the future for young people like a great mountain.” He added, “We will continue to pay close attention to youth policies and strive for development to support young people who dream and grow in the future.”
Meanwhile, Geochang-gun plans to hold a handwritten essay contest starting in March for 100 participants who mature in 2023, sharing their sincere stories to motivate other young people.
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