Osan City Encourages Enrollment in 'Seed Money Passbook' and Expands Support

[Suwon Ilbo=Reporter Park Chan-hyuk] Osan City is actively promoting new enrollment in the 'Seed Money Passbook,' a program designed to help low-income children achieve stable self-reliance as adults, and is recruiting individuals and organizations to sponsor participating children.

The Seed Money Passbook is a program in which the government and local government add matching funds at a ratio of 1:2, up to a maximum of 100,000 won per month, when a child saves a certain amount each month. For example, if a child, guardian, or sponsor saves 50,000 won per month, the local government and government add 100,000 won, bringing the total monthly accumulation to 150,000 won. If this is maintained for 15 years, a total asset of 30 million won can be accumulated.

The accumulated funds can be used after age 18 for self-reliance purposes such as tuition, vocational training, and housing. From age 24 onward, the funds can be used without restrictions. The city plans to establish a practical foundation through this program so that children can make stable transitions into society and plan their futures.

The city carefully monitors enrollment status to ensure no eligible children are missed, and provides guidance on new enrollment and sponsorship participation through the city website and district administrative welfare centers. Children wishing to enroll can visit their residential district administrative welfare center or apply online through the welfare portal 'Bokjiro' (www.bokjiro.go.kr).

As of May 30 of last month, Osan City had 1,525 children eligible for Seed Money Passbook enrollment, of which 782 (51.3%) have completed enrollment. By category, all 71 children under protection have completed enrollment, 656 (49.5%) of children receiving basic living assistance have enrolled, and 55 (42.3%) of near-poverty-level children have enrolled.

Additionally, the city is simultaneously recruiting sponsors to help families that have opened accounts but cannot make deposits and children who have not yet opened accounts. Organizations and individuals wishing to sponsor can visit the Osan City Child Welfare Division or their local district administrative welfare center, or contact them by phone (☎031-8036-8722) to arrange sponsorship. Sponsorship donations are also eligible for tax deductible charitable contributions at year-end settlement.

Mayor Lee Gwon-jae said, "The Seed Money Passbook is more than simple savings; it is a starting point to help children take control of their own lives," adding, "It is essential for the local community to support children from difficult circumstances together."