Applications open through 6 p.m. Friday on the Seoul Metropolitan Government's Asset-Building Support Project website
Save 150,000 won (about $108) a month and the city matches it — collect 10.8 million won plus interest at the three-year mark
Mapo-gu is accepting applications for its 2026 "Hope Double Youth Savings" program through 6 p.m. Friday, district Mayor Park Kang-su announced. The program is designed to help working young adults build financial assets and plan for a stable future.
Under the program, a working youth who saves 150,000 won each month for two or three years receives a matching contribution funded by the Seoul Metropolitan Government budget and private donations.
A participant who consistently saves 150,000 won a month over three years will accumulate 5.4 million won in personal savings, which the city matches with an equal 5.4 million won — yielding a total of 10.8 million won plus interest at maturity.
Applicants must be working residents of Mapo-gu between the ages of 18 and 34 as of the announcement date of May 26.
Eligibility requires at least three months of employment within the past year or at least three months of current employment; the type of work and number of hours are not restricted.
Applicants' pre-tax average monthly earned income must not exceed 2.55 million won. The annual income of a financial dependent — such as a parent or spouse — must be below 100 million won, and their assets below 900 million won.
Veterans who have completed mandatory military service may apply up to age 39, with the upper age limit extended by the length of their service.
The following are ineligible: recipients of livelihood, medical, residential or education benefits; those currently serving mandatory military duty; those unable to open a bank account in their own name; and anyone who has previously received support through a similar asset-building program.
Participants in Seoul's 2026 Youth Allowance program or the Family Caregiver Youth Self-Care Support project are also ineligible.
Eligible applicants can apply online through the Seoul Metropolitan Government's Asset-Building Support Project website.
Required documents include a family relations certificate and proof of employment period, all of which can be submitted online. Proof of employment is required only for part-time workers, freelancers and others in non-standard employment; those enrolled in the four major social insurance programs or registered business operators may skip that document if they consent to the use of public MyData services.
Applications will go through a document review at the applicant's local community center in Mapo-gu, followed by an income and asset investigation by the district office. The Seoul Welfare Foundation will announce the final selections on Nov. 3.
Selected participants must sign an online agreement and open a savings account within seven days of the announcement to receive the matching support funds.
"The Hope Double Youth Savings program is designed to help young people build assets and prepare for the future," a Mapo-gu official said. "We hope many young adults will take part and ease the financial burden of establishing an independent foundation for their lives."
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