Save and Get an Extra 1 Million Won... Gwangju Youth Savings Account Doubles Again This Year

Recruiting 11th Round Participants
for Working Youth Aged 19 to 39

Gwangju City is recruiting participants for the 11th round of the ‘Youth 13 (Work + Life) Savings Account,’ a program designed to help working young people build their assets. Under this initiative, if participants save a fixed amount each month, the city will match the amount, supporting the economic independence of young people.

On January 7, Gwangju City announced that it would be accepting applications for the 11th round of the ‘Youth 13 (Work + Life) Savings Account’ from January 8 to 18, aiming to support a better life for working youth.

Gwangju Metropolitan City Hall. Photo by Song Bohyun

The ‘Youth 13 Savings Account’ is a financial asset-building support program for young workers aged 19 to 39. If a participant saves 100,000 won per month for 10 months (a total of 1 million won), Gwangju City will provide an additional 1 million won, allowing the participant to receive a total of 2 million won plus interest at maturity. For the 11th round, eligible applicants are those born between January 2, 1986, and January 1, 2007.

This year, 620 participants will be selected. Since the 7th round (500 participants), Gwangju City has gradually expanded the recruitment size. Last year, of the 620 participants, 598 received the maturity payment, resulting in a maturity rate of 96.5%. The total maturity payments disbursed amounted to 1,196,000,000 won.

The city also reported high satisfaction with financial capability enhancement programs for participants, such as financial management and spending habit improvement.

Eligible applicants must have their registered address in Gwangju as of the announcement date and must have been employed for at least three months. Monthly income, including taxes, must be at least 920,556 won and no more than 3,077,086 won. This corresponds to an amount from 100,000 won above the 2026 single-person livelihood benefit up to 120% of the median income.

Starting this year, applications will be accepted through the ‘Gwangju Youth Integrated Platform.’ Launched in April of last year, this platform consolidates youth policy-related websites to improve convenience and accessibility for participants.

Final participants will be selected by lottery on January 30 from among those who pass the document screening. The lottery process will be released through the Gwangju Youth Center YouTube channel.

Selected participants will begin saving 100,000 won per month for 10 months starting in February. During this period, Gwangju City plans to support the enhancement of young people’s financial capabilities through financial education programs and more.

For more details, visit the Gwangju Youth Center, the Gwangju City website, or the Gwangju Youth Integrated Platform.

Kwon Yunsook, Director of Youth Policy, stated, “We will continue to pursue policies that support young people’s entry into society and economic independence, making Gwangju a city of opportunity where youth can achieve their dreams. We look forward to the interest and participation of many young people.”