500 youths chosen for final round of 'Youth Tomorrow Ireum Pay' savings incentive

The Korea National Community Rehabilitation and Self-Sufficiency Agency, under the Ministry of Health and Welfare, announced Thursday that it had selected 500 recipients of the Youth Tomorrow Ireum Pay support project.

The project provides holders of a Youth Leap Savings Account with 50,000 won ($37) in digital Onnuri gift certificates once they present proof of an achievement in categories such as employment, starting a business, completing a degree, obtaining a certification, or marriage and childbirth.

Launched for the first time this year, the project aims to celebrate young people's major life milestones — economic independence, skill-building and family formation — and to encourage their drive toward self-sufficiency. It is funded through donations that Hana Bank, which handles the Youth Leap Savings Account, designated to the Community Chest of Korea.

Among the 500 selected, the largest share, 194 people, or 38.8 percent, qualified under economic independence, covering employment and business startups. Skill-building, which includes completing a degree or earning a certification, accounted for 170 people, or 34 percent, followed by family formation, covering marriage and childbirth, with 136 people, or 27.2 percent.

By specific category, employment was the most common achievement, with 168 people, or 33.6 percent, followed by certification attainment with 86 people, or 17.2 percent; degree completion with 84 people, or 16.8 percent; marriage with 78 people, or 15.6 percent; childbirth with 58 people, or 11.6 percent; and business startups with 26 people, or 5.2 percent.

Of the 500 selected, 478, or 95.6 percent, enrolled in 2023, as many in that cohort are nearing the end of their three-year savings period and approaching maturity this year.

"The Youth Tomorrow Ireum Pay project carries deep significance in that it combines government savings support with private donations to create a structure that jointly supports young people's achievements," said Kim Kyung-hwan, head of the Korea National Community Rehabilitation and Self-Sufficiency Agency. "We will continue to expand our donor partnerships so that more young people can take part."