Workers aged 15 to 34 However, the age restriction is extended for employees who completed their military service. Still, the maximum age may not exceed 39. Youth employees who do not have prior employment insurance record as of their hire date. However, short-term work (3 months or less) is not counted into the insured period. There are no restrictions regarding level of education, but those who are currently in high school, university or on academic leave in university are not eligible. (However, those who are graduating high school or university, or enrolled in open universities, cyber colleges (distant colleges), credit bank system, evening colleges, and graduate schools are eligible)

Small to medium-sized enterprises with five or more employees as of the youth employee’s hire date. However, certain industries are not eligible (e.g. certain entertainment industries, non-profit organizations, etc.). Certain companies in industries such as the knowledge service industry, culture content industry, or venture capitals are eligible regardless of the number of employees they have (i.e. less than 5). Find out more about the benefits of the Youth Tomorrow Savings program with Maximus, a provider with the best knowhow in government employment support programs. For more information on the Youth Tomorrow Savings program, please contact our Youth Tomorrow Savings Team .

Youth Tomorrow Savings - Maximus Korea

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Youth Tomorrow Savings

The Youth Tomorrow Savings is a program where the youth employee, employer, and government contribute to a mutual aid fund over the course of two years.

The aim of this program is to encourage youth workers to sustain employment at small and medium-sized enterprises and help them start build up their assets. The youth employee contributes KRW 125,000/month (a total of KRW 3 mil. over the course of two years) while the government contributes KRW 6 mil., and the employer KRW 3 mil. (*80% to 100% of the employer’s contribution is subsidized by the government depending on the size of the company) The mutual aid amounts to KRW 12 mil. after the 2-year fund-raising period.

Eligibility criteria

Youth employees

Workers aged 15 to 34

However, the age restriction is extended for employees who completed their military service. Still, the maximum age may not exceed 39.
Youth employees who do not have prior employment insurance record as of their hire date. However, short-term work (3 months or less) is not counted into the insured period.
There are no restrictions regarding level of education, but those who are currently in high school, university or on academic leave in university are not eligible.

(However, those who are graduating high school or university, or enrolled in open universities, cyber colleges (distant colleges), credit bank system, evening colleges, and graduate schools are eligible)

Employers

Small to medium-sized enterprises with five or more employees as of the youth employee’s hire date.

However, certain industries are not eligible (e.g. certain entertainment industries, non-profit organizations, etc.).
Certain companies in industries such as the knowledge service industry, culture content industry, or venture capitals are eligible regardless of the number of employees they have (i.e. less than 5).

Find out more about the benefits of the Youth Tomorrow Savings program with Maximus, a provider with the best knowhow in government employment support programs. For more information on the Youth Tomorrow Savings program, please contact our Youth Tomorrow Savings Team.

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Youth Tomorrow Savings

The Youth Tomorrow Savings is a program where the youth employee, employer, and government contribute to a mutual aid fund over the course of two years.

Eligibility criteria

Employment Support Service