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Application deadline
Young adults in South Korea have until 6:30 p.m. on Oct. 16, 2026, to apply during the second enrollment period for the Youth Future Savings program, according to the country’s Financial Services Commission. Applications must be submitted through a participating financial institution’s mobile app before the deadline.
The second application period began Oct. 7, initially using an odd-even schedule based on the final digit of applicants’ birth years. All eligible applicants may apply from Oct. 12 through Oct. 16.
Eligibility and review
The program is generally open to people ages 19 to 34 when they enroll. For this round, that covers applicants born from Nov. 17, 1991, through Nov. 27, 2007. Up to six years of mandatory military service may be excluded when calculating age eligibility.
Income and preferred-benefit eligibility reviews are scheduled for Oct. 19 through Nov. 13, although the timeline may change depending on application volume and review progress. Preliminary results are expected between Oct. 30 and Nov. 2, with a tentative appeals period from Nov. 2 through Nov. 5.
Account-opening period
Applicants approved for enrollment must open an account through their financial institution’s app between Nov. 16 and Nov. 27, excluding Saturdays and Sundays. Deposits begin after the account is opened. Applicants who miss that window will not be able to establish an account for this enrollment round.
Participants in the existing Youth Leap Account are not transferred automatically. Those who meet the new program’s requirements must apply, pass the review and open a Youth Future Savings account before requesting a special early termination of their Youth Leap Account for the purpose of switching programs.
Proposed benefit changes
South Korea’s proposed 2027 government budget would expand eligibility and raise contribution rates for the preferred-benefit category. The current rate is 12%, while the proposal calls for rates of 15% or 25%. The 25% rate would apply to workers at small and midsize companies outside the Seoul metropolitan area.
Some higher-income participants currently receive only a tax exemption on interest because they do not qualify for government contributions. If the 2027 proposal wins approval from the National Assembly, standard contributions would be paid retroactively to those participants, while existing preferred-benefit members would receive retroactive increases.
How to apply
Applications are available through the mobile apps of NongHyup, Shinhan, Woori, Hana, IBK, KB Kookmin, Suhyup, iM, Busan, Gwangju, Jeonbuk, Kyongnam and Kakao banks, as well as Korea Post. Additional information is available at fill4young.kinfa.or.kr or through the Korea Inclusive Finance Agency’s youth finance call center at 1397, option 3.
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