The financial authorities are promoting the launch of the ‘youth-type income deduction long-term fund’ to support young people’s asset formation in the first quarter of this year.
According to the financial sector on the 1st, the Financial Services Commission announced that it would support the launch of a youth income deduction long-term fund in the first quarter of this year through a New Year’s work report.
The product is a system that allows 40% of the payment amount to be deducted within 6 million won per year, and the target is young people aged 19 to 34 with a personal income of 50 million won or less. It is possible to sign up for 3 to 5 years, and even if you sign up for 3 years, you can receive a maximum deduction of 7.2 million won.
The authorities also decided to provide wealth management consulting services to subscribers by launching the Youth Leap Account in June, which helps young people to raise a lot of money.
In addition, to stabilize the lives of young people, low-interest funds such as Sunshine Loan Youth are supplied and special rapid debt restructuring is operated for young people. For young people who have applied for debt restructuring, we plan to provide livelihood-oriented support such as support for delinquent health insurance premiums.
The policy is to reduce the housing cost burden by increasing the ceiling of special guarantee for youth jeonse from 100 million won to 200 million won and supplying ultra-long-term mortgages. In addition, it plans to promote youth jobs, such as preferential guarantees for young entrepreneurs and support for small and medium-sized enterprises with excellent jobs to alleviate job mismatching.
Chae Seon-hee, Hankyung.com reporter [email protected]
