President Lee Jae-myung announced that the government will support the future of young people through the second round of the Youth Future Savings program, which begins on October 7.
On October 4, President Lee shared an article about the initiative on X (formerly Twitter), stating, "The government will back young people as they prepare for their future step by step."
He explained that applications for the second round of the Youth Future Savings program will start on October 7, with eligibility criteria including a household income of up to 200% of the median income. Starting next year, the program will be open to all young people.
The second round of enrollment will run from October 7 to 16. This three-year savings program aims to support asset formation among youth, allowing monthly contributions of up to 500,000 won.
Depending on the type of enrollment, the government will provide support of 6% or 12% of the contributions, and interest income tax will be exempt. For this round, applicants can choose their category from general income earners, small business employees, or self-employed individuals.
Additionally, President Lee addressed the direction of reform efforts, stating, "Reform is for the people and the nation, not for the political achievements or applause of individuals." He emphasized that reform should be a goal, not a means to gain attention or attack others.
He added, "Reform must lead to tangible results that improve people's lives and contribute to national development. The process should not be so flashy that it hinders the creation of results. I will steadfastly pursue practical reforms that genuinely enhance the lives of the people."
On October 4, President Lee shared an article about the initiative on X (formerly Twitter), stating, "The government will back young people as they prepare for their future step by step."
He explained that applications for the second round of the Youth Future Savings program will start on October 7, with eligibility criteria including a household income of up to 200% of the median income. Starting next year, the program will be open to all young people.
The second round of enrollment will run from October 7 to 16. This three-year savings program aims to support asset formation among youth, allowing monthly contributions of up to 500,000 won.
Depending on the type of enrollment, the government will provide support of 6% or 12% of the contributions, and interest income tax will be exempt. For this round, applicants can choose their category from general income earners, small business employees, or self-employed individuals.
Additionally, President Lee addressed the direction of reform efforts, stating, "Reform is for the people and the nation, not for the political achievements or applause of individuals." He emphasized that reform should be a goal, not a means to gain attention or attack others.
He added, "Reform must lead to tangible results that improve people's lives and contribute to national development. The process should not be so flashy that it hinders the creation of results. I will steadfastly pursue practical reforms that genuinely enhance the lives of the people."
* This article has been translated by AI.
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