Busan Youth Double Joy Account: Busan City's Asset Building Support for Young People

The Busan Youth Double Joy Account is a support program operated by Busan City to assist young people in building assets. Participants save a fixed amount each month, and Busan City matches that amount, helping young people accumulate substantial funds and achieve financial independence. The 2026 application period runs online from August 10th to August 21st, and the program has garnered significant interest, with a 13:1 competition ratio last year.

Under this account, if a participant saves 100,000 KRW monthly, Busan City contributes an additional 100,000 KRW. This allows for a total of 4.8 million KRW plus interest after 24 months, or 7.2 million KRW plus interest after 36 months. Eligibility requires being a Busan resident (18-39 years old) as of the announcement date, having earned income or business income, and meeting household and individual income criteria. Specifically, personal income must be below 150% of the standard median income, with employees needing to be enrolled in at least one of the four major insurance schemes, and self-employed individuals requiring a business registration certificate. Since it is not first-come, first-served, verifying eligibility within the application period is crucial.

Bloggers praise the Busan Youth Double Joy Account for offering high returns rarely seen in commercial bank products and suggest that linking it with the Youth Future Savings can be even more advantageous. However, they emphasize the importance of maintaining conditions such as Busan residency and employment throughout the contract period to receive the full city subsidy. Preparing documents in advance and applying before the deadline are recommended tips for a smooth application process.