President Moon “Straightly expand the target of support”
On/off registration possible until the 4th of the new month
For the ‘Youth Hope Savings Savings’, which even criticized as ‘Hope Advisor’ due to concerns regarding the early deadline, the government received applications by the 4th of next month and revised the plan so that all young people who meet the requirements can join. Initially, with a budget of 45.6 billion won, it was possible to support up to 380,000 people, but as the number of applicants surged to such an extent that the bank’s mobile banking application (app) was paralyzed, the target of support was expanded.
The government announced on the 22nd that it had deliberated and decided on the operation plan for the Youth Hope Savings Fund at a cabinet meeting. President Moon Jae-in at the cabinet meeting on the same day said, “It was originally planned to support 380,000 young people, but as the number of applications is expected to increase sharply than expected, we will decide on a plan to operate the Youth Hope Savings Savings Project by greatly expanding the plan.” “Anyone who has the necessary skills can benefit from it,” he said.
According to the Financial Services Commission, this week, applications for five sub-systems according to the last digit of the birth year will be accepted as scheduled this week, and next week, regardless of the year of birth, you can sign up during business days. Non-face-to-face subscriptions are available from 9:30 am to 6:00 pm, and face-to-face subscriptions are available from 9:30 am to 3:30 pm. Since the 1st of the following month is not a business day, we do not accept applications for membership. After receiving applications by the 4th of next month, the FSC plans to review whether to resume additional businesses by identifying demand.
Youth Hope Savings, a two-year installment savings account, can receive up to 10% interest at the rate of general savings products. The number of preview service requests that were conducted from the 9th to the 18th exceeded 2 million. On the eve of the official launch, the number of applicants for the Youth Hope Savings Savings Savings Savings Savings Savings Savings Program began to flow, delaying access to mobile banking apps for most banks, including Kookmin, Nonghyup, Woori, Shinhan, and Industrial Bank of Korea.
Initially, the budget for the Youth Hope Savings Savings Program was 45.6 billion won, and if all applicants signed up with the monthly limit of 500,000 won, they might receive support up to regarding 380,000.
By Hong In-ki