Youth Future Savings Applications Open from the 22nd… From Eligibility Requirements to Switching Accounts
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Economic Content Platform for Investors
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by Kim Minyoung
Published 15 Jun.2026 12:00(KST)
The Financial Services Commission and the Korea Inclusive Finance Agency on June 15 provided guidance on eligibility, schedule, application procedures, how to switch from the Youth Leap Account, and frequently asked questions (FAQ) for the Youth Future Savings program.
Financial Services Commission Chairman Lee Okwon attended the ‘First Step to Fill the Future, Youth Future Savings Account Unboxing Talk Concert’ held on May 14 at the Small Enterprise and Market Service Seoul Exclusive Training Center in Jongno-gu, Seoul, and gave a greeting. May 14, 2026 Photo by Dongju Yoon
According to the Financial Services Commission, eligibility for the Youth Future Savings program is limited to young people aged 19 to 34 who meet specific income and household requirements. During the initial application period, from June 22 to August 7, 2026, those born between January 1, 1991, and August 7, 2007, can apply. For those who have completed military service, the period of service (up to six years) is excluded from age calculation.
Youth who can verify their income from the previous year are eligible to apply. In addition, employees of small and medium-sized enterprises (SMEs), new SME hires, and small business owners who meet certain requirements can apply for preferential products.
The application period for the Youth Future Savings program will run for two weeks starting June 22. Applicants can apply non-face-to-face via the apps of handling institutions, including IBK Industrial Bank of Korea, NH NongHyup Bank, Shinhan Bank, Woori Bank, Hana Bank, KB Kookmin Bank, iM Bank, Busan Bank, Kyongnam Bank, Kwangju Bank, Jeonbuk Bank, Suhyup Bank, KakaoBank, and Korea Post. However, Toss Bank plans to launch the product in December 2026.
During the first week of applications, from June 22 to June 26, an application quota system based on year of birth will be in place. Afterward, from June 29 to July 3, anyone can apply regardless of year of birth.
Applicants who receive notification of eligibility following the screening process may open an account between July 27 and August 7 (excluding weekends). Once the account is opened, deposits can be made immediately, including on weekends. However, for those switching from the Youth Leap Account, deposits can only be made starting at 9 a.m. the day after the special early termination of the Youth Leap Account.
The Youth Future Savings program operates on a semi-annual basis. For young people who turn 35 between the end of the initial enrollment period and the next application period (scheduled for December 2026)—specifically, those born between August 8 and December 31, 1991—additional application opportunities may be limited. Therefore, those wishing to participate must apply during this initial application period.
Wage earners and those required to file comprehensive income tax returns must apply for the Youth Future Savings program through the mobile apps of participating banks. After application, individual income, household, and SME eligibility will be assessed. If approved, applicants may open a Youth Future Savings account and begin making deposits.
Small business owners applying under this category must obtain a ‘Small Business Owner Certificate’ for all operating business locations before applying for the Youth Future Savings program.
In principle, dual enrollment in both the Youth Leap Account and the Youth Future Savings program is not allowed. However, to guarantee the rights of existing Youth Leap Account holders, switching from the Youth Leap Account to the Youth Future Savings program is permitted only during this initial application period.
The switch is conducted by first enrolling in the Youth Future Savings program and then performing a special early termination of the existing Youth Leap Account. Therefore, switching is allowed only for those who meet the eligibility criteria and have received approval for enrollment. Applicants wishing to switch must first complete the application and screening process for the Youth Future Savings program and receive notification of eligibility. However, if the special early termination is not carried out within the account opening period, deposits to the Youth Future Savings program are not possible.
The special early termination of the Youth Leap Account for the purpose of switching to the Youth Future Savings program can be requested via the mobile app of the bank handling the Youth Leap Account. Once the application is received, termination is processed automatically, and deposits to the Youth Future Savings program can then be made.
KakaoBank, which is handling a government policy-based deposit product for the first time, will accept up to 200,000 applications to ensure stable system integration and service operation. Other participating institutions have no such limit.
During the first week’s application quota system at KakaoBank, applications will be accepted for up to 40,000 accounts per day. From June 29 to July 3, additional applications will be accepted within the remaining quota.
The Financial Services Commission explained that the dedicated website will provide information on eligibility and benefits, a pre-qualification assessment, a maturity payout calculator, and allow users to check the status of their application review.
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