Youth Leap Account Guide

To help young people build assets and prepare for the future,
the Korean government introduced the Youth Leap Account.
This post covers what it is, its benefits, eligibility, and the broader economic impact.

Table of Contents

1. What Is the Youth Leap Account?
2. Background and Necessity
3. Key Features and Benefits
4. Eligibility and How to Apply
5. Expected Outcomes
6. References and Resources

What Is the Youth Leap Account?

The Youth Leap Account is a financial savings program for people aged 19 to 34.
Participants deposit a set amount each month, and both the government and financial institutions provide matching support.
Over five years, account holders can build savings of up to 50 million KRW.

Lower-income participants receive greater support, making this a tailored asset-building policy.

Background and Necessity

• Rising challenges for young adults in securing funds for housing, marriage, or starting a business
• Delayed asset formation among early-career workers
• Widening generational wealth gap
• The need for a program that encourages long-term savings habits

In response, the government launched the Youth Leap Account as part of its youth support initiatives.

Key Features and Benefits

• Eligibility: Young adults aged 19–34
• Duration: Up to 5 years
• Deposit Limit: Up to 700,000 KRW per month
• Government Subsidy: Matching contributions based on income level
• Goal: Save up to 50 million KRW

Eligibility and How to Apply

1. Application Channels: Commercial banks and designated online platforms
2. Requirements: Age and income criteria must be met
3. Documents Needed: ID and proof of income
4. Validity: Account can be maintained for up to 5 years

Expected Outcomes

• Helps young adults accumulate substantial savings
• Supports life plans such as marriage, housing, or business ventures
• Provides greater opportunities for lower-income youth
• Encourages long-term savings habits and strengthens financial independence

FAQ

Who can open a Youth Leap Account?

It is available only to young adults aged 19–34 who meet certain income requirements.

How much can I deposit each month?

You can contribute up to 700,000 KRW monthly.

How does government support work?

Government subsidies are income-based—lower-income participants receive more support.

References and Resources

• Financial Services Commission – Youth Leap Account
• Ministry of Economy and Finance – Policy Briefing
• Youth Policy Portal