Here is a program where the government helps parents save money for their children.
It is the "Our Child Independence Fund."
Under this system, parents and the government contribute together to a fund in the child's name to help build a starting fund for independence when the child reaches adulthood.
The government provides a certain amount of support depending on the household income level.
If 2 million won is saved annually for 19 years, assuming an annual return of 6%, it is calculated that a lump sum of over 70 million won can be accumulated by the time the child becomes an adult.
Families raising children may want to take a closer look at this program.
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※ Please note: This article was translated by AI and may contain errors.
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Lee Gang
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