Gyeonggi Province is implementing the ‘Disabled Nulim Account’ program, which provides an additional 100,000 KRW support when a person with a severe disability saves 100,000 KRW per month.
Gyeonggi Province announced that it will carry out the Disabled Nulim Account program, where the province and local governments support the amount saved by disabled individuals up to 100,000 KRW per month for 24 months, and will recruit applicants from the 7th to the 30th of this month. The province expects that after two years, the principal and interest combined will amount to approximately 5 million KRW.
The eligible applicants are residents of the province who are classified as ‘severely disabled’ under the Disability Welfare Act and are aged 19 (born in 2006) to 23 (born in 2002).
When applying, even if not the applicant themselves, a direct ascendant or a household member can apply on their behalf at the local administrative welfare center in their area of residence. There are no separate income or asset criteria, but those enrolled in similar asset formation support programs cannot apply simultaneously.
Gyeonggi Province considered that most youth support programs target young people with earned income or business income, so severely disabled individuals who find employment difficult have not been able to fully benefit from government and local government youth support programs.
Kim Hana, Director of Welfare at Gyeonggi Province, said, "We hope that the Nulim Account will be a starting point of new opportunities for young people with severe disabilities to dream and realize those dreams."
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