Applications for the second round of Korea's Youth Future Savings program are scheduled for October 7–16, 2026. Existing Youth Leap Account holders may have another opportunity to switch, but the correct sequence is not to close the old account first.

This guide reflects the Financial Services Commission and Korea Inclusive Finance Agency information available on September 19, 2026. It separates the application window, eligibility review, account opening, and special early termination of the Youth Leap Account.

Youth Future Savings Round 2 schedule

Application and account-opening schedule

Stage Date What to check
Application October 7–16 Birth-year odd/even scheduling on October 7–8
Open application October 12–16 All eligible birth years may apply
Eligibility review October 19–November 13 Individual and household income checks
Account opening November 16–27 Only applicants notified as eligible may open an account

The implementing institutions should publish the exact odd/even assignment before the application window. Filing an application does not immediately create an account. Applicants must pass the review, receive an eligibility notice, and then open the account during the November window.

Basic eligibility announced for Round 2

The official baseline requirements include:

  • Age: 19–34
  • Birth-date range for this round: November 17, 1991 through November 27, 2007
  • Employees: gross annual salary of KRW 75 million or less
  • Small-business operators: annual sales of KRW 300 million or less
  • Household test: household income at or below 200% of the median
  • Military service: up to six years may be excluded from the age calculation

Youth Future Savings eligibility check

Meeting the age rule alone does not guarantee enrollment. The program reviews both individual and household income. Applicants will also select their small- and medium-sized enterprise employment status, which the Korea Inclusive Finance Agency plans to cross-check against external data. If the preliminary result does not reflect the applicant's actual circumstances, supporting documents may be required during the designated explanation period.

Contributions and the “up to 19.4% annually” headline

Youth Future Savings is a three-year policy savings product with flexible monthly contributions from KRW 1,000 to KRW 500,000. Government contributions and tax-exempt interest are part of the program design.

The government's up to 19.4% annually headline should not be read as the same guaranteed bank deposit rate for every participant. A participant's effective return depends on:

  • monthly contribution amounts and continuity;
  • the applicable government-contribution tier;
  • the final interest rate offered by the participating bank; and
  • whether the account is terminated early.

Check the participating institution's final rate and your government-contribution category before opening the account.

Correct order when switching from a Youth Leap Account

For current Youth Leap Account holders, approval and opening of the new account come before termination of the old one.

  1. Apply for Youth Future Savings in Round 2.
  2. Complete the individual- and household-income review.
  3. Receive notification that you may enroll.
  4. Open the Youth Future Savings account during the November opening window.
  5. Apply for special early termination of the Youth Leap Account for the purpose of joining Youth Future Savings.

Correct sequence for switching from a Youth Leap Account

Closing the Youth Leap Account through an ordinary early-termination process first could affect special-termination eligibility or existing benefits. The Financial Services Commission's announcement instructs account holders to complete Youth Future Savings review and opening before requesting special early termination of the Youth Leap Account.

The exact app screens and switch procedure are expected in a further notice before Round 2 begins. Check the participating institution's app and the Korea Inclusive Finance Agency's official notice before taking action.

The proposed 2027 expansion is not final

The Financial Services Commission also announced a proposal to broaden eligibility to all young people and increase the preferential government-contribution rate if the 2027 budget passes the National Assembly. As of September 19, 2026, this remains a budget-dependent proposal.

Applicants for Round 2 should therefore use the currently announced age, individual-income, and household-income requirements. Do not assume that universal youth eligibility or higher contributions have already been finalized.

Application checklist

  • [ ] Save the October 7–16 application window.
  • [ ] Check your assigned day for the October 7–8 odd/even schedule.
  • [ ] Verify your age and any military-service age adjustment.
  • [ ] Check the employee salary or small-business sales threshold.
  • [ ] Expect a household-income review at 200% of the median.
  • [ ] Prepare accurate evidence for SME employment status if applicable.
  • [ ] Do not terminate a Youth Leap Account first.
  • [ ] Save the November 16–27 account-opening window.

Korean Naver version: Read on Life Mokcha's Naver Blog

About the Author

The Life Mokcha editorial team explains Korean living policies and public services by checking eligibility, deadlines, and application steps against official announcements and practical user workflows. This article provides general policy information and does not guarantee an individual enrollment decision.

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