The Korea Institute for Self-Reliance and Welfare (Director Jeong Hae-sik), an organization under the Ministry of Health and Welfare, and Gangnam-gu Office (Mayor Cho Seong-myeong) announced that they signed a business agreement for the 'Asset Formation Additional Support Project' to promote economic independence and welfare of low-income people at 2:00 PM on November 14 at Gangnam-gu Office.
This agreement aims to encourage participants in the Asset Building Support Program (Hope Savings Account I) to maintain their accounts and facilitate stable asset accumulation. Under the agreement, Gangnam-gu will provide additional subsidies to participants, which will support their long-term asset building and goal achievement.
The additional support funds will be managed through an automated management system, allowing participants to transparently monitor their accrual status and the accumulated amount of support. This system is expected to facilitate efficient execution of local government self-reliance funds.
The agreement will last for three years from 2026 to 2028, and extension will be reviewed based on future business performance.
Jeong Hae-sik, director of the Korea Institute for Independent Living, said, “Through collaboration with Gangnam-gu, we will further strengthen our support for customized asset formation in the region,” and added, “Through professional and systematic operation, we will increase the maturity retention rate and asset formation performance of participants.”
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