디딤씨앗통장When a child (guardian, sponsor) accumulates a certain amount every month, the state (local government) provides 1:2 matching support within 100,000 won per month.
「Child Welfare Act」Article 42 (Asset Formation Support Project), Article 43 (Asset Formation Support Project-related Work), Article 44 (Entrustment of Asset Formation Support Project-related Work)
Children under the age of 18 in welfare facilities (child care facilities, group living homes), children in foster care, children in residential facilities for the disabled, children in children’s homes.
Children in temporary shelters may be eligible if they have been in long-term care for more than 3 months or are expected to be in long-term care (baby box children, adoption requests, parent death, etc.)
Newly selected among children from beneficiary households (livelihood, medical benefits) with an income of 40% or less of the median income between the ages of 12 and 18
New selection target in 2023: Ages 12 to 17 (You can sign up starting from the month of your birthday when you turn 12)
In the case of adopted children
Government (local government) support applies to those under 18 years of age.
When a child accumulates savings with the help of a sponsor or guardian, the government (local government) matches 1:2 within the range of 50,000 won per month (maximum accumulated amount is 500,000 won per month) and supports up to 100,000 won per month.
Children (guardians, sponsors, etc.) can accumulate up to 500,000 won per month (6 million won per year), but national matching is not possible for additional accumulated amounts exceeding 50,000 won per month (matching support is up to 100,000 won per month).
Child savings are available up to 500,000 won per month, and government matching support is available up to 50,000 won per month.
Go to Didim Seed Account Information Inquiry Service (child’s own inquiry possible)
Afterwards, it can be used only for self-reliance purposes such as tuition, technical qualification and job training costs, start-up support, and housing purchase support.
If there is no use for independence, such as tuition, acquisition of technical qualifications, or housing, children’s savings and government matching support can be paid without restrictions on use when the child reaches the age of 24.
In the future, we plan to establish a system that will automatically withdraw money to an account in your name when you reach the age of 24.
Refer to the Korea Research Institute for Vocational Education and Training’s private qualification information service (go to http://www.pqi.or.kr and search for certified private qualifications)
If it is necessary to limit the number of times depending on the characteristics of the child, it may be possible.
Operation plan for start-up business, business registration certificate, lease agreement, product quotation, etc.
For children with illnesses, support is available until full recovery.
Support for marriage and married life expenses
Support to maintain a stable marriage (family) life
Submit marriage certificate documents such as marriage registration documents (application possible after the fact)
When the city/county/district head recognizes that it is necessary to use accumulated funds to support children’s independence
If necessary, city/county/district heads may hear opinions from relevant experts, heads of child welfare facilities and facilities (institutions) for the disabled, children’s committee members, and guardians, if necessary, before approving use.
In exceptional cases, if you are experiencing difficulties due to livelihood issues, etc., you may be admitted after hearing the opinions of the head of a child welfare facility or disabled facility (institution), guardians such as foster parents, and child protection personnel, etc.
Institutions recognizing associate’s degrees: Lifelong education facilities, vocational education and training institutions, etc. determined by the Minister of Education by Presidential Decree pursuant to the Act on Credit Recognition, etc.
Types and overview of cancellation: In principle, cancellation is upon maturity, and early withdrawal is possible when certain conditions are met.
After the age of 24, the full amount can be withdrawn without restrictions.
Up to 5 withdrawals are possible, including early withdrawal, within the child savings limit.
Up to 2 times within the child savings limit
Only the child savings amount is paid and the matching amount is refunded.
Similar reasons for early termination may be recognized after gathering opinions from relevant experts, child welfare facilities, children’s commissioners, and guardians, if necessary, before approval, such as in other cases among detailed usage of accumulated funds.
Children under institutional care > Facilities submit a list of eligible children > City, county, district – Designation of account issuance recipients, screening, confirmation of recipients > Cooperating bank – Bankbook issuance > Children’s (sponsored) savings > City, county, district – Accumulation of government matching subsidy, Payment at maturity (for self-reliance)
Children under foster care > Application for Didim Seed bank account > Eup, myeon, dong – Collect applicants and submit (monthly) > City, county, district – Designate recipients for account issuance, screen and confirm recipients > Cooperating bank – Issuance of bankbook > Children ( Sponsorship) Savings > City, county, district – Accumulation of government matching support funds, payment at maturity (for self-reliance)
Children receiving care from families receiving basic livelihood security > Application for Didim Seed bankbook account > Eup, myeon, dong – Identify and collect applicants and submit > City, county, district – Designate recipients for account issuance, screen and confirm recipients > Cooperating bank – Issuance of bankbook > Children ( Sponsorship) Savings > City, county, district – Accumulation of government matching support funds, payment at maturity (for self-reliance)
Child care facilities, group living homes, children in living facilities for the disabled, etc.
Copyright ⓒ 2020 National Center for the Rights of the Child (NCRC) all rights reserved.
