미래가치를 창출하는 글로컬 산학일체 혁신대학
The Policies for Youth
By Han Ha-yeong Reporter, Junior of English Language and Literature
Do you know there are support policies and benefits for youth who will lead the future? Recently, there have been several policies involving young people in many ways. The following includes an introduction to the different programs for young people and how they can help us.
Youth Leap Account
What: It is a policy that offers up to 6 percent monthly government contribution and tax exemption (tax-free/non-taxable) of interest income if you pay optionally within 700,000 won monthly for a maturity of 5 years.
Who
Individual income: The people whose total salary is under 75 million won. The total income amount is set at 63 million won. However, the tax exemption without government contribution applies only if the individuals earned more than 60 million won but less than 75 million won.
Household income: 180 percent or less of the median income depending on the number of household members.
How: You can apply through the 12 banks’ websites for two weeks every month. The application period will be announced separately on the KINFA website. (Details may change.)
Youth Housing Dream Subscription Account
What: It is a government program to support young people who plan to buy a home. If they deposit for a certain time, the government will provide a portion of their saving, and offer them housing priority.
Youth Employment Support Fund for Vacant Positions
What: It is a program that provides supporting funds of up to 2 million won to young people working in small companies such as manufacturing, restaurants, agriculture, shipping, and fisheries to narrow the wage gap. (You can check your qualifications by accessing ‘Work24.’)
National Technical Qualification Examination Fee
What: It is a program that the Human Resources Development Service of Korea supports 50 percent of the examination fees of national technique qualification for young people to minimize the financial burden of job-seeking and career development.
How: When you accept the application, choose and pay for the supported test.
Limit: 3 per person per year, until the support budget is exhausted.
There are some benefits and opportunities for young people to get a better education, more job opportunities, and a better quality of life. Those who are interested in or qualified should check the policies and take full advantage of them.