Chairman Lee Okwon: "Youth Future Savings Account to Launch in June, Will Support Young People in Building Initial Savings"

Financial Services Commission Holds Youth Communication Meeting on the 22nd
Lee Okwon: "Finance Will Genuinely Support the Daily Lives and Futures of Young People"

On the afternoon of the 22nd, Lee Okwon, Chairman of the Financial Services Commission, met with various young people facing diverse financial situations at the "Youth Talk About the Future of Finance" youth communication meeting held at Ondream Society in Jung-gu, Seoul. He listened to their thoughts, concerns, experiences, and requests, and explored directions for the development of youth finance. Financial Services Commission

Lee Okwon, Chairman of the Financial Services Commission, announced that the Youth Future Savings Account will be launched as scheduled in June, providing support for young people to accumulate a substantial initial sum of money.

The Financial Services Commission stated on the 22nd that it held a youth communication meeting titled "Youth Talk About the Future of Finance" at Ondream Society in Jung-gu, Seoul. The meeting was organized to meet with ordinary young people facing various financial situations, listen to their thoughts, concerns, experiences, and requests, and explore directions for the development of youth finance.

Chairman Lee explained, "To ensure that finance can truly help young people's daily lives and futures, we will focus our efforts on three main areas: asset building, providing funds for entering society, and enhancing financial capability."

He added, "Through the launch of the Youth Future Savings Account in June this year, we will support young people in effectively accumulating an initial lump sum. We will also introduce a new microfinance loan product for youth with an interest rate of around 4.5% to support their entry into society."

The Youth Future Savings Account is a product in which young people with an annual income of 60 million won or less can deposit 500,000 won per month for three years, totaling 18 million won. The government will provide 1.08 million won in interest support, allowing participants to receive approximately 20 million won including interest.

Chairman Lee stated, "To help young people accurately assess their financial situations and maintain stable financial lives, we will actively promote financial counseling for youth starting this year. Beginning today, we will provide all young people with basic online financial assessment services."

He continued, "The President has emphasized that the government's role is to create many new opportunities and give hope to young people. Moving forward, we will visit universities, youth startups, and local businesses where young people are active, continue to listen to their voices, and consistently develop policies that benefit youth."

At the meeting, various young participants-including subscribers to the Youth Leap Account, users of microfinance, users of the one-stop youth financial consulting service, and job seekers in the financial sector-shared opinions such as supporting transitions from the Youth Leap Account to the Youth Future Savings Account, expanding funding for entering society, and increasing employment opportunities in the financial sector.