'Self-Reliance Fund' to be introduced in the second half of next year… helping young people build assets
Published
The government has announced a new asset-building support policy to help young people make a stable entry into society. The 'Self-Reliance Fund,' which will be introduced in the second half of next year, is a system where parents and the government save funds together from the time a child is born to provide significant support when they reach adulthood.
This system operates by having parents and the government save up to 2 million won each per year. The funds accumulated in this way are intended to be used as seed money for when the child takes their first steps into society as an adult. The support period lasts for up to 19 years from the time of the child's birth.
Through this policy, the government aims to create an environment where young people can prepare for the future without financial hardship. In particular, it is expected to contribute to reducing social disparities by providing practical help to young people who lack initial assets.
The introduction of this Self-Reliance Fund demonstrates the state's commitment to actively supporting the independence of young people. As the full-scale implementation approaches in the second half of next year, there is a great deal of interest in the specific application methods and operational plans.
Sources: 정책브리핑
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