The Ministry of Health and Welfare announced on September 30 that it had completed the selection of 24,145 participants for the 2026 “Youth Tomorrow Savings Account” program, which helps low-income working youth build assets.
The Youth Tomorrow Savings Account is a program in which the government matches monthly savings of 100,000 won made by working youth from households with incomes at or below 50% of the median income with an additional 300,000 won each month. Upon completing the three-year term, participants receive 14.4 million won in accumulated funds—including their own savings of 3.6 million won—along with interest of up to 5% per year.
Eligible participants are young people aged 15 to 39 with monthly earned income of at least 100,000 won. Launched in 2022, this program had previously provided 100,000 won per month to young adults (ages 19–34) with incomes between 50% and 100% of the median income—those just above the second-lowest income bracket—but however, considering the overlap in eligibility with the Financial Services Commission’s “Youth Future Savings” program, new enrollments for this income bracket have been suspended starting this year. Instead, the number of young people eligible for support at or below the near-poor income level has been increased from 20,000 last year to 25,000 this year. This year’s budget for the program is 221.3 billion won.
The Ministry of Health and Welfare began accepting applications in May and finalized the list of participants after reviewing eligibility requirements, including income and asset checks. Young people who receive notification of their selection can visit a nearby Hana Bank branch or open an account remotely via the Hana Bank OneQ app, then deposit their own savings of 100,000 to 500,000 won per month.
To receive the maturity benefit, participants must continue working and make personal savings contributions for at least 24 months, complete 10 hours of self-reliance training through the Asset Formation Portal or similar platforms, and submit a fund utilization plan.
Measures to prevent early termination have also been expanded. Starting this year, the suspension period—during which participants can temporarily halt contributions due to unavoidable circumstances such as job loss—has been extended from a maximum of 6 months to 12 months. In cases of military enlistment, or leave of absence or resignation due to pregnancy, childbirth, or childcare, participants can apply for a special suspension of contributions to pause payments for up to two years and extend the maturity date. Starting this year, financial education related to the maturity support funds has been diversified from primarily in-person special lectures to include online courses, remote financial counseling, and in-person consulting.
The program’s effectiveness has also been confirmed. According to a panel study of enrolled young adults, the total monthly income of participants rose from 1.83 million won in 2022 to 2.35 million won in 2025, and while monthly debt repayments also rose from 340,000 won to 480,000 won, indicating improved financial health. The proportion of participants in regular, full-time employment and their earned income also steadily increased.
The enrollment schedule and selection quota for 2027 will be finalized and announced in the first quarter of next year. Detailed information is available through the Asset Formation Portal chatbot, the Asset Formation Support Call Center, and local administrative welfare centers.
Kim Moon-sik, Director General of Welfare Policy at the Ministry of Health and Welfare, stated, “We will review measures to relax savings requirements and strengthen tailored support so that working low-income youth can build assets through the Youth Tomorrow Savings Account and nurture their dreams for the future.”
