Youth Future Savings: How to Open an Account by November 27

Applicants from the second application round in 2026 should open an account through a participating institution's app from November 16 to 27 (South Korea) after receiving final confirmation of eligibility to enroll. Those enrolling through a linked Youth Leap Account must open the new account and then complete the special early closure before they can make deposits.

Second-round applicants for Youth Future Savings should first check their final eligibility notice. Have the participating institution’s app ready and open an account from November 16 through November 27. Youth Leap Account holders should also complete the linked enrollment process.

The schedule and figures are based on the Financial Services Commission’s September 30, 2026 notice and October 6 post.

November review results and account opening schedule

This account opening period is a follow-up step for people who applied in October. As of November 7, 2026, the scheduled final result notification dates have not yet arrived. If you missed the October application period, you cannot submit a new application during this account opening period.

Step 2026 schedule What to check
Enrollment application October 7 to 16, excluding Saturdays, Sundays, and public holidays Check whether you have already completed your application
Eligibility review October 19 to November 13 Check for requests for additional documents or consent
Preliminary review results October 30 to November 2, tentative Distinguish these from the final results
Appeals November 2 to 5, tentative Check your individual notice and whether your appeal has been received and processed
Final result notification Scheduled for November 12 to 13 Check your eligibility and enrollment category
Account opening November 16 to 27, excluding Saturdays and Sundays Complete account opening in the participating institution’s app

The Financial Services Commission stated that its internal review schedule may change.

The internal review schedule may change in part depending on the number of applicants, review progress, and other factors.

The source is the Financial Services Commission’s guide to second-round enrollment procedures and key dates. Distinguish the scheduled dates from your actual individual notification. If you receive a notice of changes, check the applicable schedule again.

How to check your Youth Future Savings review results

Check the final results in the notification message or text message from the Korea Inclusive Finance Agency. The category you selected when applying does not guarantee your final enrollment category. Be sure to read the follow-up instructions in the result notice as well.

  1. Check whether the notice you received concerns the preliminary or final review.
  2. Check your eligibility and assigned category, such as standard or preferential.
  3. Check whether any requests for additional documents or household member consent remain outstanding.
  4. If you have not received a result or the details are unclear, contact an official channel.

You can also check your review progress on the Korea Inclusive Finance Agency’s product website. For inquiries, call the Youth Finance Call Center at 1397 and select option 3. For account opening errors in the app, it is best to contact the participating institution you plan to use.

Youth Future Savings account opening procedure

Open your account in the participating institution’s app after receiving your final eligibility notice. Submitting an application alone does not create a savings account. Before opening the account, make sure you can log in to the app and have a way to verify your identity.

  1. Open the participating institution’s app specified in your individual notice.
  2. Check the review result and applicable category on the product enrollment screen.
  3. Review the interest rate conditions and product description, then proceed with account opening.
  4. Check the completion screen to confirm that the savings account has been created.
  5. If deposits are enabled, make a deposit and check the transaction history.

Prepare additional documents if requested. If household members cannot be verified, you may need a family relationship certificate. If SME status cannot be verified, you may be asked to provide an SME confirmation certificate.

The participating institutions for the second round in 2026 are:

Check the app’s instructions for each institution’s identity verification process and required documents. You should also check with the participating institution about the hours when accounts can be opened. Do not assume that the deadline time for special early termination also applies to account opening.

Conditions and benefits by enrollment category

In your final results, check both your eligibility and your government contribution category. The income review uses income finalized by the National Tax Service for 2025. As a rule, you must be 19 to 34 years old on the account opening date. Up to 6 years of documented military service are excluded when calculating your age.

The table below shows the income criteria in the second-round guidance for 2026. You must meet both the personal income or sales requirements and the household income requirement.

Category Annual personal income or sales Household income relative to the standard median income Government contribution as a percentage of deposits
Standard category: income earners Total salary of at most KRW 60 million or comprehensive income of at most KRW 48 million At most 200% 6%
Standard category: small business owners Annual sales of at most KRW 300 million At most 200% 6%
Preferential category: new SME employees Total salary of at most KRW 60 million or comprehensive income of at most KRW 48 million At most 200% 12%
Preferential category: existing SME employees Total salary of at most KRW 36 million or comprehensive income of at most KRW 26 million At most 150% 12%
Preferential category: small business owners Annual sales of at most KRW 100 million At most 150% 12%
Income bracket eligible for tax benefits only Total salary of more than KRW 60 million and at most KRW 75 million, or comprehensive income of more than KRW 48 million and at most KRW 63 million At most 200% None

For dual-income, two-person households, the 200% threshold in the table is relaxed to 250%. The 150% threshold is relaxed to 200%. The household must consist of you and your spouse as listed on the resident registration record. Both people’s income must be verifiable through the National Tax Service.

New employees must have started their first job in 2025. They must currently work for an SME. Small business owners must also meet separate eligibility requirements, including business sector requirements. Do not determine eligibility for the preferential category based on income alone.

This is a flexible-installment savings product with a 3-year term. The monthly deposit limit is KRW 500,000, and the annual limit is KRW 6 million. Interest income is tax-exempt. Check the detailed requirements in the Korea Inclusive Finance Agency’s product guide.

Steps for switching to Youth Future Savings

Youth Leap Account holders should complete special early termination after opening the new savings account. Do not close your existing account first through the regular closure process. Recheck the detailed linked enrollment procedure in your individual official notice.

  1. Check your final eligibility notice.
  2. Open the new savings account.
  3. Apply for special early termination in the app of the bank holding your existing account.
  4. Check that the closure is being processed for linked enrollment in the new savings product.
  5. After special early termination is complete, check whether deposits are enabled.

Special early termination preserves the government contribution benefits on your existing deposits. It also preserves the tax exemption on interest income. Check the closure screen and official guidance for the details that apply to you.

If you do not complete special early termination within the specified period, you cannot make deposits into the new savings account. Your existing Youth Leap Account will remain open in this case. The Financial Services Commission instructs users to close the new savings account whose deposits have been suspended.

The difference between completing account opening and completing the first deposit

It is best to check account creation and deposit completion separately. In particular, linked enrollment accounts initially have deposit restrictions. Do not assume that every step is complete simply because you can see an account number.

Status Record to check Next action
Eligibility notification received Final result notice Open an account within the specified period
Standard enrollee’s account opening complete Account creation screen Make a deposit and check the transaction history
Linked enrollee’s account opening complete Deposit restriction status Complete special early termination of the existing account
Linked enrollee’s special early termination complete Closure processing result Check that deposits are enabled from 9 a.m. on the next business day
First deposit complete Actual deposit transaction history Review your plan for future deposits

Standard enrollees can make deposits immediately after opening an account. Deposits can also be made on weekends. Linked enrollees can make deposits from 9 a.m. on the business day after special early termination is completed. Distinguish the dates when accounts can be opened from the dates when deposits can be made.

Example calculation for monthly deposits of KRW 500,000

If you deposit the monthly maximum, the government contribution varies by your applicable category. The figures below are calculated using the deposit limit and rates in the 2026 guidance. They assume that the applicable contribution rate remains unchanged until maturity.

Calculation item Standard category: 6% Preferential category: 12%
Monthly deposit KRW 500,000 KRW 500,000
Monthly contribution calculation KRW 500,000 × 6% = KRW 30,000 KRW 500,000 × 12% = KRW 60,000
Principal deposited over 36 months KRW 18 million KRW 18 million
Total contributions over 36 months KRW 1.08 million KRW 2.16 million
Total excluding interest KRW 19.08 million KRW 20.16 million

The calculation table does not include bank interest. The base interest rate is 5% per year, and preferential rate conditions vary by institution. The 6% and 12% contribution rates are not the bank’s annual interest rates. The actual amount at maturity depends on your deposit history and applicable interest rate.

Common mistakes and ongoing requirements after account opening

Passing the review and retaining benefits at maturity are separate requirements. Employment requirements for the SME preferential category are checked even after enrollment. Check the ongoing requirements in the Korea Inclusive Finance Agency’s product guide as well. (Verified requirements: a total of at least 29 months of SME employment from the enrollment date until one month before maturity, at most 2 job changes · Source kinfa.or.kr · Verified 2026-11-07)

For the SME preferential category, you must have a total of at least 29 months of employment by one month before maturity. At most 2 job changes are allowed during that period. If you do not meet the employment requirements, you may be switched to the standard category at maturity.

FAQ

Can I open an account in November even if I did not apply in October?

This account opening period is for people who applied during the second recruitment round and received notice that they are eligible to enroll. It is not a period for new applications.

If I have not received my result by November 7, does that mean I was rejected?

Final results are scheduled to be announced on November 12~13, 2026. Do not assume you have been rejected simply because you have not received a notice before the scheduled dates.

What is the difference between preliminary screening results and final results?

Preliminary screening is the stage for checking your plan type and review details before final confirmation. Open your account after receiving final notice that you are eligible to enroll.

Where should I inquire if I have not received a result notice?

Check the progress of your review on the Korea Inclusive Finance Agency's product website. For questions about the review, you can call the Youth Finance Call Center at 1397 and select option 3.

Can I open an account after November 27, 2026?

The Financial Services Commission has stated that accounts cannot be opened after the announced account opening period. Complete the process within that period, but also check for any notices of changes.

Do I need to obtain all the required documents in advance?

As a rule, reviews are conducted through electronic data links with the relevant agencies. Additional documents may be requested for items that are difficult to verify. Check which documents have been requested and how to submit them.

Can I close my Youth Leap Account first?

For linked enrollment, you first open the new installment savings account and then close your existing account through the special early termination procedure. Do not close your existing account through the standard procedure first. Check your individual linked enrollment instructions.

Why can I not deposit money into my linked enrollment account right away?

Deposits into linked enrollment accounts are restricted immediately after opening. You can make deposits starting at 9 a.m. on the next business day after the special early termination is completed.

Do I have to deposit 500,000 won every month?

The monthly deposit limit is 500,000 won. Since this is a flexible installment savings product, you can choose how much to deposit within the limit. Contributions are calculated by multiplying your actual deposit amount by the applicable rate.

If I am approved for the preferential plan, am I guaranteed the same benefits until maturity?

For the preferential plan for small and medium-sized enterprises, you must also meet the employment requirements after enrollment. If you do not meet the requirements, your account may be converted to the standard plan at maturity.

Sources

Images

A young woman in a blue sweater sits on a grey sofa, tapping a smartphone on a wooden table.
A young woman in a blue sweater sits on a grey sofa, tapping a smartphone on a wooden table.
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A man smiles at a smartphone displaying a check mark on a kitchen counter.