Youth Tomorrow Savings Account Subscribers See Monthly Average Income Rise Over 500,000 Won in Three Years

An analysis showed that subscribers of the Youth Tomorrow Savings Account for low-income young adults experienced improvements in their financial health as their incomes and savings increased while holding the accounts.

The Ministry of Health and Welfare announced today (August 13) that these findings came from an analysis of the socio-economic changes before and after participating in the program among 3,241 individuals who enrolled in the Youth Tomorrow Savings Account between 2022 and 2023.

The Youth Tomorrow Savings Account is an asset-formation support program designed to help working low-income youths build a lump sum of money upon maturity after three years, with the government matching savings based on household and earned income.

For those who joined in 2022, total monthly average income increased by 521,000 won (28.5%), rising from 1.828 million won in 2022 to 2.349 million won in 2025. For those who subscribed the following year, monthly income grew by 525,000 won (26.5%), from 1.981 million won in 2023 to 2.506 million won in 2025.

Monthly savings increased by 125,000 won (33.9%), from 369,000 won to 494,000 won, and by 95,000 won (19.9%), from 478,000 won to 573,000 won, respectively.

The survey also found that employment stability improved.

The proportion of regular workers rose by 4.1 percentage points, from 41.1% to 45.2% for 2022 subscribers, and by 7.1 percentage points, from 42.7% to 49.8% for 2023 subscribers.

Earned income grew by 432,000 won (32.0%), from 1.352 million won to 1.784 million won for 2022 subscribers, and by 348,000 won (22.1%), from 1.577 million won to 1.925 million won for 2023 subscribers.

Additionally, the Ministry analyzed that overall living conditions appeared to have improved, as the proportion of subscribers living in their own homes, regular apartments, and rental apartments steadily increased, alongside a rising trend in housing satisfaction.

Kim Moon-sik, Director General for Welfare Policy at the Ministry of Health and Welfare, stated, "We will continue to develop the program to more effectively support the self-reliance of working low-income youths."

(Photo: Yonhap News)
※ Please note: This article was translated by AI and may contain errors.