The Ulsi Hope Double Youth Account is a savings account in which if you save 150,000 won per month for 2 or 3 years, the city of Seoul provides a matching subsidy for the amount saved. If you save 5.4 million won over 3 years, you can receive 10.8 million won. It’s a benefit.
This time, we are recruiting 10,000 new participants first, so find out how to apply and apply right away before you forget.
Seoul City Hope Double Youth Account Application👆
What is Seoul Hope Double Youth Account?
How to apply for the 2024 Seoul Hope Double Youth Passbook Qualification Required Documents
Hope Double Youth Passbook is an asset formation support project that helps working young people save a lump sum and become financially independent.
If you save 150,000 won per month for 2 or 3 years, the same amount as the amount saved through the Seoul Metropolitan Government and its sponsorship will be accumulated as a matching subsidy.
Therefore, if you save 150,000 won over 3 years, you can receive a total of 10.8 million won (principal amount 5.4 million won), which is a savings account with tremendous benefits.
How to apply for Seoul Double Hope Youth Account
The Seoul Hope Double Youth Passbook can be applied for in two ways: online or in person.
Apply online
Access the Seoul City Asset Formation Support Project website
Apply until 18:00 on the application deadline.
Apply for a bank account on the Seoul City Asset Formation Support Project website
Double Hope Youth Passbook Apply Online👆
Apply for visit
Apply by visiting the local community center with jurisdiction over your address.
Reception hours: 09:00 ~ 18:00
How to check the local community center: Enter your residential address on the road name address site and check the local community center information.
Find your nearest local office 🔍
Application qualifications and required documents
Eligibility to apply
Working young people aged 18 to 34 living in Seoul
The amount of your earned income is less than a certain amount
Income of person obligated to support less than KRW 100 million per year, assets less than KRW 900 million per year
Required documents
Membership Application
Consent to provide personal information
Social security benefit application (change) form
Consent to provide financial information
Proof of employment: Document confirming employment for more than 3 months (1 month is recognized when working for more than 10 days)
Hope Double Youth Passbook application form.hwp
0.12MB
Support details and benefits
My savings: 150,000 won per month
Matching support amount: An amount equal to your savings is accumulated every month
Accumulation period: 24 months (2 years) or 36 months (3 years)
Total points:
100,000 won/2 years: Total 4.8 million won
100,000 won/3 years: Total 7.2 million won
150,000 won/2 years: Total 7.2 million won
150,000 won/3 years: Total 10.8 million won
Savings method: monthly automatic transfer
Organizations that support matching amounts: Seoul Metropolitan Government, Seoul Community Chest of Korea, etc.
Obligations and Precautions
Obligations
Continuous residence in Seoul during the accumulation period
Save more than 50% of the accumulation period
Work for more than 50% of the accumulation period (proof of work required upon expiration)
Financial education is required at least once a year during the accumulation period.
Faithfully fulfill other agreements
Reasons for non-selection
Participants in the Seoul Youth Allowance or the 2024 Seoul Monthly Rent Support Project
Recipients of livelihood, medical, housing, and education benefits
People with a history of participating in similar asset formation support projects
military service member
Application period and contact information
Number of people recruited: 10,000 people in total
Application period: June 10, 2024 (Mon) ~ June 21, 2024 (Fri) 18:00
Inquiries: Hope Double Youth Account Call Center (1688-1453)
Hope Double Youth Account Frequently Asked Questions
Final participant announcement and agreement
Announcement of final recipients: Scheduled for Tuesday, October 15, 2024
Online contract participation: Tuesday, October 15, 2024 – Friday, October 25, 2024
Main contents of the agreement: implementation of savings, residence in Seoul, savings once a month, maintenance of employment, completion of financial education