Korean Youth Leap Account 2025 – Eligibility, Benefits, and How to Apply
The Korean government has launched the Youth Leap Account (청년도약계좌) to support young people in building financial stability and long-term savings. This program allows eligible participants to deposit monthly savings and receive additional government subsidies and interest benefits. In this post, we’ll explain the eligibility requirements, monthly contributions, benefits, and how to apply for the Youth Leap Account in 2025.
📑 Table of Contents
- What is the Youth Leap Account?
- Eligibility Criteria
- Monthly Deposit & Government Support
- Main Benefits
- How to Apply
- FAQ
What is the Youth Leap Account?
The Youth Leap Account is a long-term savings program for young adults in Korea. Participants can save a fixed amount every month, and the government provides matching support to boost the final amount at maturity. The goal is to help the younger generation achieve financial independence and prepare for the future.
Eligibility Criteria
To qualify for the Youth Leap Account in 2025:
- Age: 19 to 34 years old
- Annual income: Below 75 million KRW (approx. $55,000)
- Household income: Below 180% of the median income
- Must not already own a house
Monthly Deposit & Government Support
- Participants can deposit between 200,000 KRW and 700,000 KRW per month.
- The government adds up to 240,000 KRW per year in matching support, depending on income level.
- After 5 years, the total maturity amount can exceed 50 million KRW (approx. $37,000).
Main Benefits
- High interest rates compared to normal savings accounts
- Government subsidies based on income level
- Exemptions or reductions in taxes on interest income
- Long-term financial planning support
How to Apply
Applications for the Youth Leap Account can be made through major commercial banks in Korea, including Kookmin Bank, Shinhan Bank, Woori Bank, Hana Bank, and NH Nonghyup. Foreign residents with valid alien registration may also apply if they meet the criteria.
Required documents:
- Identification card (Resident ID or Alien Registration Card)
- Proof of income (certificate from the National Tax Service)
- Proof of household income (health insurance payment certificate)
FAQ
Q: Can foreigners apply?
Yes, foreign residents in Korea with valid registration and income proof may apply.
Q: What happens if I stop depositing?
You can withdraw your balance anytime, but government subsidies may be reduced or lost.
Q: Is this program limited-time?
Yes, the government will evaluate and adjust the program each year. For 2025, applications are open nationwide.
👉 For a detailed Korean explanation,
visit giant 금융노트 (Korean Finance Note)
