Yongsan-gu opens applications for 2026 Youth Tomorrow Savings Account

Seoul's Yongsan-gu district is accepting new applications for the "2026 Youth Tomorrow Savings Account," a program designed to help low-income working youth build assets, from May 4 to 20.

Under the program, working youth who save at least 100,000 won ($68) per month for three years receive an additional government subsidy of 300,000 won ($204) per month. Participants who save the minimum 100,000 won ($68) monthly will receive approximately 14.4 million won ($9,790) at maturity, including interest.

Applicants must be between 15 and 39 years old (born between May 1, 1986, and May 31, 2011), currently employed at the time of application, and earning at least 100,000 won ($68) per month before taxes. Income must be verifiable with documentation. Those who have previously benefited from similar asset-building support programs are not eligible.

This year, following revised Ministry of Health and Welfare guidelines, only youth from households at or below 50 percent of the median income standard may apply.

To receive the government subsidy at maturity, participants must meet four requirements over the three-year period: maintaining employment with a monthly income of at least 100,000 won ($68), making monthly personal deposits of between 100,000 won ($68) and 500,000 won ($340), completing 10 hours of financial independence education, and submitting a fund-use plan.

Applications can be submitted through the Bokjiro website or at the applicant's local community center. The district will complete income and asset investigations by July 31, select recipients between Aug. 3 and 14, and notify them individually. Selected participants must open a Hana Bank account and make their first deposit by Aug. 24.

Further details are available on the Yongsan-gu website under "News" or on the Asset Building Portal website under "Resources."

"The Youth Tomorrow Savings Account is a solid support measure that helps working youth build assets and achieve financial independence," district mayor Park Hee-young said. "I encourage all eligible youth to check the updated criteria in advance and make sure not to miss this opportunity."