Gyeonggi Province Launches Nurim Bank Account for Disabled Persons

Gyeonggi Province is launching a savings account support project for disabled persons.

@Gyeonggi Province

Gyeonggi Province Launches Nurim Bank Account for Disabled Persons

As of December 2021, there were 578,588 registered disabled persons in Gyeonggi Province (males: 344,091; females: 234,577). This is 4.27% of Gyeonggi Province’s total population of 13,565,450, and represents 21.88% of the disabled person population nationwide. 

Gyeonggi Province has held presentations on employment support programs for disabled persons, is operating the ‘Gyeonggi Travel Nurim’ program that provides travel support for disabled persons, and is implementing various other projects for disabled persons.

Gyeonggi Province will launch the first savings support project for disabled persons in Korea.

@Gyeonggi Province

Gyeonggi Province has announced the launch of the ‘Nurim Bank Account for Disabled Persons,’ which provides matching funds of KRW 100,000 if a severely disabled person at the age of 19 saves KRW 100,00 per month.

This project will provide additional support of up to KRW 100,00 per month from the province and its cities/counties based on the amount of savings over 24 months; including the principal and interest, this can accrue to approximately KRW 5 million after reaching maturity in two years.

Qualified candidates for this project are ‘severely disabled persons’ pursuant to the Welfare of Disabled Persons Act who are 19 years of age (born in 2003) and residing in Gyeonggi Province.

@Gyeonggi Province

Gyeonggi Province has established the qualifying age as 19 so that disabled persons can utilize their savings for tuition, entrepreneurship, and other purposes upon maturation. There are 1,464 disabled persons who are 19 years of age among the severely disabled persons residing in Gyeonggi Province.

Applications for this project are being accepted at local community service centers from July 18 to August 12, and applicants can apply through immediate family members or those of their household. Also, while there are no separate income or asset criteria, people who have participated in other similar asset development support projects are excluded.

Gyeonggi Province expects this project to contribute to asset development for severely disabled youths who do not qualify for other youth support benefits from the central or local governments.

Most youth support projects are for those with working or business income, making it difficult for severely disabled persons to qualify since they often have difficulties gaining employment.

Most youth support projects are for those with working or business income, making it difficult for severely disabled persons to qualify since they often have difficulties gaining employment.

@Gyeonggi Province

Gyeonggi Province hopes that the ‘Nurim Bank Account for Disabled Persons’ becomes a starting point for the independence of participating individuals, and will continue to strive to build a ‘Gyeonggi Province of Opportunity’ for disabled provincial residents.