'Self-Reliance Fund' to be introduced in the second half of next year… Helping children build assets for their future
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The government has announced a new asset-building support policy to help children achieve financial independence. The 'Self-Reliance Fund,' scheduled to be introduced in the second half of next year, is a system where parents and the government contribute together to create seed money for children's futures.
This program will operate for up to 19 years from the time a child is born. It is designed to allow parents and the government to save up to 2 million won each annually, helping the child establish a financial foundation by the time they reach adulthood.
The government expects an annual return of approximately 6% for this fund. The core objective of this policy is to support children in stably securing the lump sum needed when they take their first steps into society through long-term investment.
The introduction of this Self-Reliance Fund is raising high expectations as it is seen to reduce the child-rearing burden on parents in the era of low birth rates and help them systematically prepare for their children's futures. The government plans to finalize the detailed operational guidelines and implement the program in full starting in the second half of next year.
Sources: 대한민국 정책브리핑
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