Goseong County to Recruit 118 Subscribers for "Gyeongnam Residents' Pension" Starting January 19

Expected to Bridge Residents' Income Gaps

Goseong County in South Gyeongsang Province is recruiting 118 subscribers for the "Gyeongnam Residents' Pension" to help residents bridge income gaps and prepare for a stable retirement.

The "Gyeongnam Residents' Pension" is a support program implemented by South Gyeongsang Province and 18 cities and counties, utilizing the Individual Retirement Pension (IRP) system. For every 80,000 won contributed by a resident to their "Gyeongnam Residents' Pension" account, a support fund of 20,000 won will be deposited. The support fund is capped at 240,000 won per year, with a maximum of 2.4 million won accumulated over 10 years.

The accumulated support fund will be paid into the subscriber's account when any of the following conditions are met first: 10 years have passed since enrollment, the subscriber reaches the age of 60, or at least five years have passed since the initial contribution and the subscriber is over 55 and applies to receive the pension.

The recruitment period runs from January 19 to February 22. Applicants will be recruited in stages according to income brackets, and the number of recruits for Goseong County in 2026 is 118.

Eligible applicants are Goseong County residents with earned or business income who meet all of the following: born between 1971 and 1985; have an annual personal income of 93,524,227 won or less (based on the 2024 income certificate); and meet the eligibility requirements to open an Individual Retirement Pension (IRP) account.

Applications can be submitted online through the Gyeongnam Residents' Pension website. Once the application is completed, applicants must open an Individual Retirement Pension (IRP) account by accessing the NH Nonghyup Bank or BNK Gyeongnam Bank app, or by visiting a nearby branch. Residents who have difficulty applying online can receive assistance at NH Nonghyup Bank or BNK Gyeongnam Bank branches.

Kim Jongchun, Director of the Population and Youth Promotion Team, stated, "We expect that the Gyeongnam Residents' Pension will help alleviate the income gap for residents between retirement and the start of National Pension payments," and added, "We encourage many residents to actively enroll in preparation for a vibrant retirement."