South Korea will open a second application round for the Youth Future Savings program from October 7 through 16. The product allows eligible young people to save up to 500,000 won a month for three years, with government contributions increasing the effective return.
The Financial Services Commission said the first two application days will be split by birth-year ending digit: odd-numbered years on October 7 and even-numbered years on October 8. From October 12 through 16, applicants can apply regardless of birth year.
Who can apply
The second round covers people born from November 17, 1991 through November 27, 2007. Income requirements remain the same as in the first round: salaried applicants generally need annual pay of 75 million won or less, while qualifying small-business owners can have annual sales of up to 300 million won, with a household-income ceiling of 200 percent of the median.
The government says the preferential version can produce an effective annual return of up to 19.4 percent when contributions are included. Authorities also plan further adjustments before a third recruitment round, so eligibility may broaden again later.