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To help young people form assets, the 'Youth Hope Savings Savings' was launched today (21st) with an interest rate of 10% per annum with government support.
There were so many applicants that it was difficult to access the bank app, but there were also concerns about running out of budget and dissatisfaction with the subscription conditions.
This is reporter Im Tae-woo.
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This morning, a notice appears saying it is difficult to access a bank app.
This is because of the 'Youth Hope Savings', which started joining today.
It was decided to split into five sub-systems for five days from today by year of birth, but applicants flocked in all day.
When a subscriber saves up to 500,000 won per month for two years, about 5% of the interest given by the bank is tax-free, and the government adds an additional 4% as a savings incentive, which is effectively a 10% savings account.
[Youth Hope Savings Savings Member: (Saving Savings Product) itself had an interest rate of only 1-2%, but the interest rate is quite high because youth support is coming out like this as a government benefit, right?
] It's not possible.
The average monthly salary of a worker is 3.2 million won before tax and 2.7 million won after tax, so the government's promise of youth welfare is insignificant.
[Young office worker: There are many small and medium-sized businesses with a starting salary of over 30 million won.
Young people in their 30s have to buy their own house, but loans are difficult and they can't get these benefits, so I felt a bit bitter.
The current government budget can support 380,000 people, but 2 million people have already asked if they are eligible to join, so the budget is expected to run out quickly.
The government is discussing ways to add to the budget.
(Video coverage: Kim Tae-hoon, video editing: Kim Kyung-yeon, VJ: Park Hyun-woo, screen source: YouTube 'YESPICK')