On the 10th, the Korea Inclusive Finance Agency (KINFA) announced that it would offer a partial withdrawal service and benefits for personal credit evaluation points to members who have been enrolled for two years in the Youth Leap Account.
Until now, those who urgently needed funds after joining the Youth Leap Account had to use a loan secured by their savings or forfeit the accumulated government contribution and close the account early.
The partial withdrawal service can be used by members who have been enrolled for more than two years for one occasion within the enrollment period, up to 40% of their total contribution. Additionally, members who maintain their account for more than two years and have contributed over 8 million won will automatically receive 5 to 10 points added to their credit score according to the detailed criteria set by credit assessment companies.
Meanwhile, according to KINFA, a total of 2.142 million people have signed up for the Youth Leap Account. As of the end of May, the cumulative contributions amount to 12.6145 trillion won. The number of account maintainers is 1.703 million.