FSC Vice Chairman Kim So-young held a meeting with relevant institutions and banks on May 31 to check the progress in preparing for launching the special youth savings account program in June. The special youth savings account program will be offered by twelve banks and each lender will disclose its base interest rate and preferential rates on the website of the Korea Federation of Banks in June. At the meeting, Vice Chairman Kim urged authorities and the lending institutions to make efforts to ensure a seamless operation of the program to meet the expectation of young adults and help them accumulate assets over the medium- to long-term. The special youth savings account program is a 5-year savings product for young adults aged 19 to 34 which offers matching contributions from the government's fiscal resources as well as tax benefits on interest income.