"Double Your Savings When You Save"... Gangdong-gu Expands Eligibility for Didim Seed Bank Accounts

Government Provides Double Matching Contributions
Eligibility Expanded to Include Near-Poverty and Single-Parent Household Children

Gangdong-gu, Seoul (Mayor Lee Soo-hee) is significantly expanding the eligibility for the ‘Didim Seed Savings Account’ to support the stable social advancement of low-income children.

Provided by Gangdong-gu.

Previously, only children aged 0-17 under protective care (such as in childcare facilities or foster care) were eligible to join, but starting this year, the eligibility criteria have been expanded to include children aged 0-17 from households receiving the National Basic Livelihood Security, near-poverty households, and single-parent families. As a result, the number of new eligible applicants has increased to approximately 1,900 (as of February).

The Didim Seed Savings Account is an asset-building support program that helps vulnerable children prepare initial funds necessary for entering society. When a child enrolled in the account or a sponsor deposits a certain amount, the government matches twice the deposited amount up to a limit of 100,000 KRW per month. At maturity, the child can receive an amount close to three times the saved amount, attracting significant interest.

The accumulated funds can be used for self-reliance purposes such as tuition fees, employment training costs, and housing after the age of 18, and after the age of 24, the funds can be used freely without restrictions.

Those wishing to newly enroll in the Didim Seed Savings Account can apply by visiting their local community service center or online through the Bokjiro website. However, even if the eligibility criteria are met, those already enrolled in a similar asset-building support program, the ‘Seoul Dream Narae Savings Account,’ are restricted from dual enrollment.

Han Mi-jung, Director of the Child and Youth Division of Gangdong-gu, said, “We expect that enrolling in the Didim Seed Savings Account and consistent saving will greatly help children prepare for independence and develop proper saving habits,” adding, “We will continue to provide unwavering support for low-income children and youth.”