Looking into Korea's famous "Youth Leap Account" (청년도약계좌) to build savings? You'll hit a surprise: new sign-ups closed on December 31, 2025. From 2026 its successor, the Youth Future Savings (청년미래적금), takes over.
So the situation is simple. If you already hold a Youth Leap Account, keep it to maturity for the benefits. If you're starting fresh, look at Youth Future Savings.
What happens to the Youth Leap Account
- New sign-ups ended on Dec 31, 2025 — you can't open one in 2026.
- Existing holders keep it — the government contribution (up to ₩33,000/month) and tax-free interest continue to the 5-year maturity.
- After 3+ years, even an early termination keeps the tax exemption and part (~60%) of the contribution. If you need cash, consider a deposit-backed loan or partial withdrawal before closing.
What is Youth Future Savings (new in 2026)?
- Who — ages 19–34 (military service, up to 6 years, is excluded from the age count).
- Deposits/term — up to ₩500,000/month, flexible, with a 3-year term (shorter than the Leap Account's 5).
- Government match — 6% (standard) or 12% (preferential) of your deposits.
- Tax-free interest, and rates from about 5% up to ~8% with bonuses (varies by bank), building up to roughly ₩22M by maturity.
Standard: personal income ≤ ₩60M and household ≤ 200% median income. Preferential: personal income ≤ ₩36M and household ≤ 150% median. New hires at SMEs (within 6 months) count as preferential (12% match).
How to apply
Apply during periodic enrollment windows via a participating bank's app (KB, Shinhan, Hana, Woori, NH, IBK, etc.). Income and household data are pulled automatically. Check the Korea Inclusive Finance Agency (서민금융진흥원) site or your bank app for the current schedule.
Switching from Leap to Future Savings
Existing Leap Account holders who meet the criteria could switch during the first 2026 enrollment window via a "special early termination" that preserves accrued benefits. Order matters: open the Future Savings account first, then close the Leap Account — don't close early. Weigh remaining term, contributions already earned, and income before switching.
FAQ
Can I still open a Youth Leap Account?
No, new sign-ups ended. If starting out, look at Youth Future Savings.
Do I need income?
Income and household criteria apply. With no reported income you may be excluded from the government match — check the conditions.
Is it really better than a normal savings plan?
The government match plus tax exemption translate to a much higher effective return — provided you hold the 3-year term.
The Leap Account closed, but youth savings support didn't disappear. Starting fresh means Youth Future Savings; if you already have a Leap Account, keeping it is the default.
This is general 2026 information; terms, income thresholds and schedules can change. Confirm with the Korea Inclusive Finance Agency and participating banks. Not a product recommendation.
