Haenam County Recruiting New Applicants for 'Asset Building for Low-Income Households' Program

Haenam-gun, Jeollanam-do (Governor Myung Hyun-gwan) announced on the 6th that it is recruiting new applicants for the 2025 Hope Savings Account I and II, which support low-income working households in achieving self-reliance and building up savings. The Hope Savings Account program allows participants to receive additional government matching funds as earned income incentives on top of their own savings over a three-year period.

Haenam County Office Building Exterior View

‘Hope Savings Account I’ targets working households receiving livelihood or medical benefits. If participants save at least 100,000 KRW per month while maintaining employment for three years, they can receive an additional 300,000 KRW per month as an earned income incentive. Upon completion of the three-year term and exiting from benefit status, participants will receive 14.4 million KRW (including their own savings of 3.6 million KRW) plus interest.

Recruitment will be conducted in four rounds: March 4-14, June 2-13, September 1-12, and November 3-14.

‘Hope Savings Account II’ is aimed at households receiving housing or education benefits, as well as near-poor households (those with an income at or below 50% of the median standard).

If participants save at least 100,000 KRW per month while maintaining employment for three years, they will receive an additional 100,000 KRW per month as an earned income incentive, totaling 7.2 million KRW (including their own savings of 3.6 million KRW) plus interest. Recruitment will take place in three rounds: April 1-22, July 1-22, and October 1-24.

An official from the county stated, “The Hope Savings Account will be a strong support measure for low-income individuals aspiring to achieve self-reliance,” adding, “We will continue to actively promote various support programs to help low-income households establish a practical foundation for independence.”