Acuon Capital and Acuon Savings Bank announced on July 30 that they have provided a total of 60 million won in support funds to assist youth preparing for independence.
This initiative aims to alleviate the financial burden on young people who must manage their living expenses and education alone after leaving protective care.
According to the 2023 Independence Support Survey by the Korea Institute for Health and Social Affairs, the debt rate among youth preparing for independence stands at 33.4%, which is approximately 2.8 times higher than the 11.9% debt rate among the general youth population.
The funds distributed today will provide 112 youth utilizing care and counseling services from the Seoul City Independence Support Agency with 500,000 won each. The support can be used for living expenses, including food and clothing, as well as for personal development costs.
Kang Sin-ja, chair of the Social Responsibility Management Committee at Acuon Savings Bank, stated, "By increasing the support amount this year, we have enabled youth to use the funds not only for living expenses but also for personal development. Acuon will continue to be a reliable partner for youth preparing for independence and will maintain our commitment to supporting them in the future."
* This article has been translated by AI.
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