Save 100,000 Won Monthly and Receive 200,000 Won Deposits... Busan Youth Double Joy Savings Account Recruiting 6,000 Participants

Up to 7.2 Million Won Plus Interest Available at Maturity

The city of Busan will be recruiting 6,000 participants for the “Busan Youth Double Joy Savings Account,” a program designed to help young people build substantial savings.

Under this initiative, if a young person saves 100,000 won each month, the city will match that amount, allowing participants to receive up to 7.2 million won plus interest after two to three years.

On August 3, the Busan Metropolitan Government (Mayor Jeon Jae-su) announced that applications for participation in the “2026 Busan Youth Double Joy Savings Account” program will be accepted from August 10 to August 21.

This program allows young people to save 100,000 won each month for two or three years, with the city contributing the same amount to support asset formation. Last year, the program saw a high level of interest, recording a competition rate of 13 to 1 for 6,000 available spots.

Eligible applicants are employed young adults between the ages of 18 and 39 who have resident registration in Busan as of August 3, the official announcement date. Both employees and self-employed individuals are eligible to apply, as well as workers who are enrolled in at least one of the four major insurance plans. Day laborers may also apply if they have worked at least 20 days combined during the previous and current month as of the announcement date.

Starting this year, the special early termination conditions have been expanded from covering only the participant’s own pregnancy or childbirth to also include childbirth by a spouse. The city will also provide one-on-one financial counseling through the Busan Credit Guarantee Foundation, offering financial education covering budgeting, spending, and debt management.

Youths wishing to participate can apply online via the Busan Youth Double Joy Savings Account website from 9 a.m. on August 10 to 6 p.m. on August 21. Final participants will be selected through a random draw and eligibility screening, with the results announced on October 2. Savings deposits will begin in October.

Mayor Jeon Jae-su stated, “We have improved the program so that young people can build assets stably amid life changes,” adding, “We will continue to expand practical support to help youths prepare for their future in Busan.”

This content was produced with the assistance of AI translation services.