A promotional poster for the Busan Youth Joy-Doubled Savings Account program [Busan city government]
A promotional poster for the Busan Youth Joy-Doubled Savings Account program [Busan city government]

The Busan city government and the Busan Economic Promotion Agency will begin recruiting 6,000 participants for the 2026 Busan Youth Joy-Doubled Savings Account program on Monday.

The program matches participants' monthly savings won-for-won. Young Busan residents who save 100,000 won ($70) per month for two or three years receive an equal contribution from the city, allowing them to collect up to 7.2 million won plus interest at maturity. The program has run since 2022 and drew a competition ratio of 13 to 1 last year.

Applicants must be registered Busan residents aged 18 to 39 — born between Jan. 1, 1986, and Dec. 31, 2008 — as of Monday, the announcement date. Income eligibility is set at or below 150 percent of the median income standard for youth, corresponding to a national health insurance premium of no more than 138,780 won for workplace subscribers or 68,641 won for self-employed subscribers. Employment eligibility requires enrollment in at least one of the four major social insurance programs, either as a workplace subscriber or a self-employed worker. Day laborers are also eligible if they have worked a combined 20 or more days in the month before and the month of the announcement.

Starting this year, the program expands the grounds for a special mid-term withdrawal to include a spouse's childbirth, in addition to the participant's own pregnancy or childbirth, ensuring that participants who must withdraw early due to financial hardship can still receive their support benefits. Participants will also have access to online financial education through the Financial Supervisory Service's e-Finance Center, two in-person financial education sessions per year, and one-on-one personalized financial counseling through the Busan Credit Guarantee Foundation to help manage spending, debt and other financial concerns.

Interested applicants can apply online without supporting documents at the program's website (www.boogi2.kr) from Monday through Aug. 21. Those selected through a random draw and eligibility screening will be announced Oct. 2 and can begin their first monthly savings in October after signing a participation agreement.


kaf2002@heraldcorp.com