Youth Future Savings Account 2 Application Round: Government Contribution Eligibility for an Annual Salary of 6 Thousand and the October Deadline
During the October 2026 2 application round for the Youth Future Savings Account, salaried employees earning KRW 60,000,000 annually may also qualify for government contributions. However, benefits vary depending on whether their total gross salary for 2025 is exactly KRW 60,000,000 or less and whether they meet the household income requirements. The application deadline is October 16, and newly hired employees at small and medium-sized enterprises may also qualify for the preferential plan.
According to guidance published by the Financial Services Commission on October 7, the Youth Future Savings Account is a government-supported financial product with a maturity period of 3 years and maximum monthly deposits of KRW 500,000. Government contributions and bank interest are added to the account holder's deposits, and qualifying participants may also receive tax exemptions on interest income.
How Much Government Contribution Can You Receive With an Annual Salary of KRW 60,000,000?
Employees whose total gross salary for 2025 is exactly KRW 60,000,000 can receive the standard-plan government contribution of 6% if they meet the other eligibility requirements. Those who also satisfy the preferential eligibility requirements for newly hired employees at small and medium-sized enterprises may qualify for the preferential plan, which provides a government contribution of 12%.
The important distinction here is not the commonly used term annual salary but the previous year's total gross salary verified by the National Tax Service.
The income thresholds for standard government contributions and preferential-plan eligibility are different.
| Total Gross Salary for 2025 | Government Contribution |
|---|---|
| KRW 36,000,000 or less | Standard plan 6%; 12% if preferential requirements are met |
| Above KRW 36,000,000 and up to KRW 60,000,000 | Standard plan 6%; 12% if preferential requirements, such as new employment at an SME, are met |
| Above KRW 60,000,000 and up to KRW 75,000,000 | Eligible for tax exemptions without government contributions |
These categories are based on the total gross salary of employees. Applicants must also meet other requirements, including age and household income criteria, while the preferential plan involves a separate eligibility assessment.
For example, a total gross salary of KRW 60,000,000 falls within the income bracket eligible for government contributions. However, a salary of KRW 60,010,000 exceeds the government contribution income threshold under the general employment income criteria.
It is important to distinguish between the income threshold for opening an account and the income threshold for receiving government contributions.
Standard vs. Preferential Plans: What Changes at an Annual Salary of 6 Thousand?
The standard plan is available to young people who meet the income and household requirements. The preferential plan requires applicants to satisfy additional conditions related to employment at an SME, continued employment at an SME, or small-business ownership.
In particular, employees with a total gross salary of KRW 60,000,000 do not automatically qualify for the preferential plan simply because they work at an SME.
For the October 2026 application round, newly hired SME employees must meet the following preferential-plan requirements:
Be recognized as having entered employment for the first time in 2025
Be employed at an SME when applying
Have a total gross salary for 2025 of KRW 60,000,000 or less
Have household income at or below 200% of the median household income
For existing SME employees, the preferential-plan income threshold is a total gross salary of KRW 36,000,000 or less, together with a household income requirement of 150% of the median household income or less.
Therefore, even with the same annual salary of KRW 60,000,000, an SME employee who entered the workforce for the first time in 2025 may receive a different preferential-plan eligibility decision from someone who had already been working at an SME before that year.
The SME preferential plan also includes an employment retention requirement. To receive preferential benefits throughout the entire account term, participants must have accumulated at least 29 months of SME employment by one month before maturity.
If they fail to meet this employment requirement, the standard government contribution rate may apply to the entire period. Therefore, both eligibility at enrollment and employment plans through maturity are important.
Government Contributions of 6% vs. 12%: What Is the Actual Difference?
Assuming monthly deposits of KRW 500,000 for 36 months, the account holder's total principal contributions would amount to KRW 18,000,000.
A simple comparison applying the government contribution rates to the deposited amounts produces the following results.
| Category | Standard Plan | Preferential Plan |
|---|---|---|
| Government contribution rate | 6% | 12% |
| Monthly contribution with a deposit of KRW 500,000 | KRW 30,000 | KRW 60,000 |
| Total contributions over 36 months | KRW 1,080,000 | KRW 2,160,000 |
| Difference in contributions | - | KRW 1,080,000 |
These figures assume that KRW 500,000 is deposited every month without interruption and that the applicable government contribution rate remains in effect throughout the entire period. Bank interest is excluded.
Even when saving the same amount, the difference in government contributions between the standard and preferential plans is KRW 1,080,000 over 3 years.
However, the actual amount received at maturity may vary depending on deposit timing, interest rates offered by individual banks, eligibility for preferential interest rates, and the conditions governing government contributions.
When Does the October 2026 2 Application Round End?
The application period for the 2 round of the Youth Future Savings Account runs from Wednesday, 2026-10-07, through Friday, October 16.
Initially, application dates are assigned according to the final digit of the applicant's birth year. From October 12, applications are accepted regardless of birth year.
| Procedure | Schedule |
|---|---|
| Applications from people born in odd-numbered years | October 7 |
| Applications from people born in even-numbered years | October 8 |
| Applications open to everyone | October 12–16 |
| Income and preferential-plan eligibility review | October 19–November 13 |
| Account opening and deposits | November 16–27 |
As of October 10, the remaining general application period runs from October 12 through 16.
The application period and the account-opening period are different. Applicants first submit their applications in October, undergo eligibility screening, and then open their actual accounts in November if approved.
Therefore, applicants should not overlook the October application deadline simply because account opening is scheduled for November.
What Are the Age and Household Income Requirements?
The basic age requirement for the October 2026 2 application round is 19–34 years old. The birthdate range specified in the Financial Services Commission's guidance extends from 1991-11-17 through 2007-11-27.
For applicants who have completed military service, up to 6 years of military service may be excluded when calculating age.
For employees, the income requirement is a total gross salary of KRW 75,000,000 or less. For individuals subject to comprehensive income taxation, the threshold is comprehensive income of KRW 63,000,000 or less. Separate sales revenue criteria apply to small-business owners.
As a general rule, household income must not exceed 200% of the median household income. Depending on the specific preferential-plan category, a threshold of 150% may apply instead.
Even when personal income falls within the permitted range, enrollment may be restricted if household income exceeds the threshold or the previous year's income cannot be verified.
Can Existing Youth Leap Account Holders Switch to the New Account?
The October 2026 2 application round additionally allows participants to switch from the Youth Leap Account to the Youth Future Savings Account.
The process begins by applying for the Youth Future Savings Account and completing the eligibility assessment. After receiving confirmation of eligibility, the applicant proceeds to open a Youth Future Savings Account. The applicant then requests a special early termination of the existing Youth Leap Account for the purpose of enrolling in the Youth Future Savings Account.
Rather than closing the existing Youth Leap Account first, it is important to confirm eligibility for the Youth Future Savings Account and check the official switching procedure.
What Should You Check Before Applying?
Employees earning around KRW 60,000,000 annually should first verify their total gross salary for 2025.
Using their current annual salary or monthly wages as the basis for eligibility may produce a different result from the official income assessment.
If total gross salary is KRW 60,000,000 or less, applicants should check their eligibility for standard government contributions. Newly hired SME employees should also review their eligibility for the preferential plan.
Applications are submitted through financial institutions participating in the Youth Future Savings Account program. Detailed eligibility requirements and application procedures are available in the Korea Inclusive Finance Agency's official Youth Future Savings Account guidance.
Eligibility to open a Youth Future Savings Account and eligibility to receive government contributions are not always the same. Rather than focusing solely on the KRW 60,000,000 salary figure, applicants should review their previous year's income, household income, SME employment history, and application period together to determine the benefits they can actually receive.