●​ In a region where family wealth significantly shapes access to education, housing, and entrepreneurship during early adulthood, reducing inherited disparities and promoting equal opportunity should be regarded as key policy priorities for mitigating regional outmigration.

● Given the widening gaps in infrastructure and access to assets between the capital region and non-metropolitan areas, proactive asset-building welfare policies should be implemented to help level the uneven playing field currently faced by young people in Jeonbuk.

● Existing policy measures at both the central and local levels continue to emphasize one-time cash assistance, while providing limited institutional support for the long-term asset accumulation necessary to achieve sustainable youth self-reliance.

● The United Kingdom operates a Child Trust Fund scheme that provides all children born in the country with £250 at birth and an additional £250 at age seven. Parents are also permitted to make supplementary annual contributions of up to approximately £9,000, which may be withdrawn when the child reaches age 18.

● This study proposes the establishment of the Jeonbuk Child Hope Fund for all newborns in Jeonbuk (approximately 6,400 births in 2024). Under the proposal, parents and local governments would jointly contribute KRW 20 million on a 1:1 matching basis, with over 60% of the fund invested in regional innovative enterprises to enable beneficiaries to accumulate KRW 100 million in assets by age 20.

● For economically vulnerable groups, including near-poverty households, a substantially lower parental contribution ratio (e.g., 20% from parents and 80% from local governments) should be applied to ensure equitable opportunities regardless of household income levels.

● By integrating the program with the KRW 1 trillion Jeonbuk Venture Fund and appointing a professional fund manager, investments could be directed toward listed companies, venture firms, and unlisted innovative enterprises within Jeonbuk State to accumulate KRW 100 million in assets over a 20-year period, assuming an average annual return of approximately 8.2%.

● Under the proposed scheme, withdrawals would generally be prohibited before age 20, with local government contributions reclaimed in cases of out-of-province relocation and only parental contributions and investment gains returned. This structure is intended to promote continued residence in Jeonbuk.

● This study further proposes a linked Post-KRW 100 Million Incentive program aimed at encouraging young people to utilize the KRW 100 million accumulated by age 20 as a foundation for long-term settlement and sustainable economic activity in Jeonbuk, rather than short-term consumption.

● Beneficiaries who utilize the KRW 100 million accumulated through the program for housing purchases or Jeonse deposits within Jeonbuk after reaching adulthood could receive additional matched housing support or preferential eligibility for half-price housing programs.

● Similarly, when the KRW 100 million is used as seed capital for start-ups established in Jeonbuk, beneficiaries could receive additional investment support or interest-free financing packages of an equivalent scale through linkage with the KRW 1 trillion Jeonbuk Venture Investment Fund.

● Beneficiaries who remain employed by innovative or locally rooted companies in Jeonbuk for a specified period (e.g., three or five years) could receive extended tax benefits on returns generated by the KRW 100 million or additional employee settlement incentives.

● Serving as seed capital for housing and entrepreneurial activities within Jeonbuk, the KRW 100 million accumulated by age 20 could operate as a powerful policy tool to encourage young people to remain in the province rather than relocate to the capital region for employment opportunities.

● Allocating over 60% of the fund’s assets to innovative enterprises in Jeonbuk—including sectors such as Physical AI, secondary batteries, mobility, and agri-bio—would help drive regional industrial growth and create a virtuous cycle in which returns generated by local firms are reinvested into children’s future asset accumulation, fostering stronger community ties and regional attachment.

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