As part of supporting the independence of homeless youth transitioning out of youth welfare facilities such as youth shelters, the independence support allowance Happiness Guardian account (seizure prevention account) will be issued.
According to the Ministry of Gender Equality and Family on the 22nd, the Happiness Guardian account can be issued at IBK Industrial Bank, Hana Bank, regional agricultural and livestock cooperatives nationwide, credit unions, iM Bank, KB Kookmin Bank, NH Nonghyup Bank, and Woori Bank.
The independence support allowance is a system that provides up to 500,000 won per month for a maximum of five years to help homeless youth establish a stable basis for independence after leaving protective facilities. The Happiness Guardian account, where the allowance is deposited, is a dedicated account operated to protect the rights of welfare benefit recipients from seizure. This helps prevent the accounts of homeless youth from being seized, making it difficult for them to be independent.
Homeless youth wishing to open an account must visit their local city, county, or district office that administers the independence support allowance to obtain a 'confirmation of recipient status for youth transitioning out of facilities' certificate and present their identification at the bank where they intend to open an account.
Deposits can only be made into the Happiness Guardian account for welfare benefits such as the independence support allowance, and no other deposits are allowed. However, transfers or withdrawals to other banks from the account are free.