The Youth Leap Account is a government-supported savings account that allows free payment within the limit of 700,000 won per month for 5 years until maturity. As one of the government support policies that helps young people save a lump sum, a government contribution of up to 6% is provided depending on the amount paid, and 50 million won can be saved over 5 years. Please check the conditions and application method below.
Recently, the system has been improved to allow faster application for the Youth Leap Account. Account opening is possible from January 2nd to January 12th, so please apply immediately below.
Click here to apply for Youth Leap Account
Youth Leap Account Terms and Conditions How to Apply
Youth Leap Account Terms and Conditions How to Apply
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Youth Leap Account Conditions
Age Requirements
Income Requirements
How to apply for a Youth Leap Account
Youth Leap Account Bank Recommendation
Good article to read together
Youth Leap Account Conditions
There are age and income requirements, and young people residing in Korea who meet all of the membership requirements below are eligible.
Age Requirements
This applies to young people between the ages of 19 and 34 as of the date of new subscription, and up to 6 additional years of military service are recognized.
Income Requirements
Personal income requirements: Total salary must be KRW 75 million or less, and the total income added to the comprehensive income tax base must be KRW 63 million or less. However, this excludes cases where there is only non-taxable income.
Financial income requirements: You cannot join if you have been subject to financial income comprehensive taxation within 3 years (those whose interest and dividend income exceeds 20 million won).
Household income requirements: Those with household income below 180% of the median
Since income is verified through the National Tax Service’s income verification certificate, please check your income below.
Go to check my income
※ If the income for the previous tax period has not been confirmed, look at the income from the previous year.
How to apply for a Youth Leap Account
Depending on the level of personal income and the amount paid, up to 6% of the amount paid is supported as a government contribution. Tax exemption is also provided for interest income.
If you pay 700,000 won per month, you will receive government contributions for each income group. You can make up to 50 million won over 5 years, and it is applied as self-paid amount + government support + high interest rate + tax exemption.
Payment limit based on personal income Matching ratio limit
Total salary less than 24 million won
(Comprehensive income 16 million won or less) 400,000 won 6% 24,000 won
Total salary less than 36 million won
(Comprehensive income 25 million won or less) 500,000 won 4.60% 23,000 won
Total salary less than 48 million won
(Comprehensive income 36 million won or less) 600,000 won 3.70% 22,000 won
Total salary less than 60 million won
(Comprehensive income) KRW 48 million or less) KRW 700,000 3% KRW 21,000
Total salary less than 75 million won
(Comprehensive income 63 million won or less) – – –
You can apply for membership non-face-to-face every month through the mobile app of the bank handling the Youth Leap Account.
Click here to apply for Youth Leap Account
Youth Leap Account Bank Recommendation
Interest rates vary slightly from bank to bank, but the highest interest rate is the same at 6%. Although the preferential interest rate varies slightly from bank to bank, the difference is not much, so it is better to use your main bank if possible.
If you are curious about the preferential interest rates for youth take-off accounts at each bank, please check below.
We have learned above how to apply for the Youth Leap Account conditions. I hope this helps you a lot.