This is an English version of our Korean article, based on public information as of October 4, 2026. Please check the official sources below for the latest details.
Read the original Korean article
Summary
- The application period is October 7–16, and for the first two days (October 7 and 8) applications are split by whether the last digit of your birth year is odd or even.
- The program is for people aged 19 to 34 who meet the individual and household income requirements. This round covers those born between November 17, 1991 and November 27, 2007.
- It is a 3-year, flexible-deposit savings product with a monthly maximum of KRW 500,000. The government contribution is 6% for the standard type and 12% for the preferred type.
- Screening runs from October 19 to November 13, and account opening from November 16 to 27. Youth Leap Account (청년도약계좌) holders can also switch.
Youth Future Savings (청년미래적금) is a government-backed savings product that helps young people build a lump sum. Round 2 follows the first round and starts this Wednesday, so we have laid out the schedule and requirements step by step to avoid confusion over the overlapping application dates.
This article is based on the Financial Services Commission’s press release and the Policy Briefing guide, and detailed procedures may change depending on how applications go. Right before you apply, please check the official Youth Future Savings web page again. Eligibility for many Korean programs depends on residency or registration status in Korea, so please confirm on the official site.
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Who Can Join and the Income Limits
The eligible age is 19 to 34. In this second round, people born between November 17, 1991 and November 27, 2007 can join. If you have completed military service, up to 6 years are subtracted when your age is calculated.
For income, you must be a wage earner with total salary of KRW 75 million or less, or a small business owner with annual sales of KRW 300 million or less, and your household must be at 200% or less of median income. Income screening is based on 2025 income.
However, whether you receive a government contribution depends on your income bracket. If your total salary is above KRW 60 million and up to KRW 75 million, you can join but receive only the tax-exemption benefit, without a contribution. Check your bracket in the table below first.
| Category | Income criteria | Median household income | Contribution match |
|---|---|---|---|
| Not eligible for contribution (tax benefit only) | Total salary above KRW 60 million up to KRW 75 million (total income KRW 48 million to KRW 63 million) | 200% or less (250% for dual-income two-person households) | None |
| Standard type | Total salary of KRW 60 million or less (total income of KRW 48 million or less), or a small business owner with annual sales of KRW 300 million or less | 200% or less (250% for dual-income two-person households) | 6% |
| Preferred type | Employees of small and medium-sized enterprises (SMEs) with total salary of KRW 36 million or less (total income of KRW 26 million or less), or small business owners with annual sales of KRW 100 million or less (separate criteria apply to new SME hires) | 150% or less (200% for dual-income two-person households) | 12% |
You must meet both the income requirement and the median household income requirement at the same time. Because of the household income review, you may be asked to consent to providing household member information, so it is best to check right away when you receive a text message or notification.
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Product Structure and Benefits
Youth Future Savings is a 3-year flexible-deposit product. You can deposit any amount you like each month, from a minimum of KRW 1,000 to a maximum of KRW 500,000, and if you deposit the maximum, your total principal comes to KRW 18 million.
The interest rate is fixed for 3 years, with a base rate of 5% plus preferential rates of up to 2–3%. The Financial Services Commission explained that, combining the interest rate, the government contribution and the tax exemption on interest income, the return is comparable to putting money into a regular savings account (simple interest) at up to about 13.2–14.4% for the standard type and about 18.2–19.4% for the preferred type.
In a simple calculation, if you steadily deposit KRW 500,000 a month, the government contribution is about KRW 30,000 a month for the standard type and about KRW 60,000 a month for the preferred type. Actual amounts vary depending on how you deposit and which type you join, so please treat this as a reference only.
SME employees who join the preferred type must keep meeting the employment requirement after joining. If you do not meet it, your account may be switched to the standard type at maturity, which can reduce some benefits such as the contribution.
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Application Period and How to Apply
Applications are accepted only remotely, through the mobile apps of participating institutions. The participating institutions are IBK (Industrial Bank of Korea), NH Nonghyup, Shinhan, Woori, Hana, KB Kookmin, iM, Busan, Kyongnam, Gwangju, Jeonbuk, Suhyup, KakaoBank, and Korea Post.
| Step | Schedule | Details |
|---|---|---|
| Application | October 7 (Wed): odd last digit of birth year / October 8 (Thu): even / October 12 (Mon)–16 (Fri): everyone | Choose your own account type (regular wage earner, SME employee, or small business owner) in the institution’s app |
| Eligibility and income screening | October 19–November 13 | Screening without separate documents; additional documents may be requested if needed |
| Preliminary screening results and objections | October 30–November 2 / November 2–5 (tentative) | Preliminary results are announced, and you can submit an explanation if you object |
| Final results | November 12–13 | Notified individually |
| Account opening | November 16–27 | Open your account in the institution’s app after being notified that you can join |
The application steps are simple. First, install the app of the bank you plan to use, and prepare identity verification and a checking account. Then, on your application day, choose your account type in the app and apply. After that, you receive the screening result and open your account.
KakaoBank accepts applications for up to 100,000 accounts during the Round 2 period. During the first odd/even period it accepts up to 50,000 accounts per day, and afterward it accepts applications within the remaining limit. Other participating institutions are planned not to set a separate limit on the number of accounts.
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What Has Changed in Round 2
After feedback that the screening process in Round 1 was inconvenient, the Financial Services Commission and the Korea Inclusive Finance Agency revised the screening method this time. The biggest change is that applicants now choose their own account type at the application stage.
Whether you work at an SME is verified by cross-checking the applicant’s selection against the Korea Inclusive Finance Agency’s screening results, which use information such as KoDATA data. Before final results are confirmed, preliminary results will be announced in advance, and they say applicants will be given ample opportunity to submit an explanation if the selected type differs from the result.
They also said that each step will be announced again beforehand, and that they will add servers and expand call center staff to prepare for heavy traffic during the screening period. Even so, missing a notification message or text could work against you, so please check any notice the same day it arrives.
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Switching from the Youth Leap Account and Things to Watch
You cannot hold both Youth Future Savings and the Youth Leap Account at the same time. In this second round, existing Youth Leap Account holders get one more chance to switch to Youth Future Savings. The structures differ: the Leap Account is KRW 700,000 a month for 5 years, while Future Savings is KRW 500,000 a month for 3 years.
The order of switching matters. (1) Complete your Youth Future Savings application and screening and receive notice that you can join. (2) Open your Youth Future Savings account. (3) Apply for special early termination of your Youth Leap Account. If you do not complete the special early termination within the same period after opening the account, you cannot make deposits into Future Savings.
- If you apply as a small business owner, you must first obtain a small business owner certificate before applying. If you have more than one business site, you must obtain it for all of them.
- Whether you work at an SME is selected by the applicant and cross-checked against the institution’s screening result. If it is hard to verify electronically, you may need to submit an SME certificate.
- If you choose the wrong account type, it may differ from the preliminary screening result. Be sure to check it at the advance notice and do not miss the objection period.
Finally, here is a pre-application checklist. Going through it item by item should help you avoid being caught off guard on your application day.
- Install the mobile app of the institution you plan to use, and finish sign-up, identity verification, and opening a checking account
- Check the last digit of your birth year and decide which date you can apply (October 7 or 8, or October 12 or later)
- Estimate your income bracket and median household income requirement based on 2025 income
- If you are a small business owner, get your small business owner certificate; if you are an SME employee, work out how to verify your employment
- Handle any text message or notification about consenting to household member information right away
If you need help, call the Korea Inclusive Finance Agency’s Youth Finance Call Center (dial 1397 with no area code, then press 3 at the prompt). Details of the eligibility requirements are also available on the Youth Future Savings web page.
As a side note, the Financial Services Commission said that the 2027 government budget proposal includes expanding eligibility to all young people and raising the preferred-type contribution to 15% (25% for those working at SMEs outside the capital region). If it is finalized in the National Assembly, it plans to pay the increase retroactively to existing subscribers as well, but this is not yet confirmed.
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Frequently Asked Questions
Q. Do I have to follow the odd/even birth-year system?
On October 7, people whose birth year ends in an odd digit apply, and on October 8, those whose birth year ends in an even digit. This system is meant to reduce heavy traffic, so from October 12 to 16 anyone can apply regardless of birth year.
Q. Do I need to prepare documents in advance?
Screening is carried out without submitting separate documents. However, you may be asked to submit documents if further checking is needed. Documents that must be issued before applying, such as the small business owner certificate, need to be prepared separately.
Q. My total salary is KRW 70 million. Can I join?
If your total salary is KRW 75 million or less and you meet the median household income requirement, you can join. However, if your total salary is above KRW 60 million, there is no government contribution and you receive only the tax exemption on interest income.
Q. What if I change my mind after joining?
The official materials we reviewed for this article did not detail the early termination conditions. Please check the termination conditions and penalties in the product guide of the institution you plan to use, and with the Korea Inclusive Finance Agency call center (1397).
Sources
- Policy Briefing – Up to 19.4% a year: Round 2 Youth Future Savings, applications open October 7
- Policy Briefing – Up to 19.4% a year: Youth Future Savings Round 2 applications from October 7
- Financial Services Commission press release – Round 2 Youth Future Savings applications from October 7
- Youth Future Savings official web page (Korea Inclusive Finance Agency)
This article summarizes public information for informational purposes. Eligibility, amounts, and schedules may vary depending on your personal situation and government announcements, so please confirm with the official institutions before applying.
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