Applicants for the second round of the Youth Future Savings programme totalled 688,000. Cumulative applicants including the first round reached 2,819,000 excluding duplicates. By age, the share was highest among those aged 25 to 29, and by enrolment type most were general income earners.

South Korea's Financial Services Commission said on Sunday a total of 688,000 people took part in the second round of applications for Youth Future Savings held from Oct. 7 to 16.

In the first round, 2,343,000 people applied. The combined applications across the two rounds total 3,031,000, but the duplicate-excluded cumulative applicant count announced by the commission was 2,819,000.

In the second round, applicants were asked to choose their enrolment type themselves among general income earners, employees at small and medium-sized firms and small business owners.

By type, general income earners were the largest group at about 558,000. Employees at small and medium-sized firms totalled 108,000, and small business owners 21,000.

By age, those aged 25 to 29 totalled 233,000, accounting for 33.9 percent of the total. It was followed by 232,000 aged 19 to 24, or 33.7 percent, and 223,000 aged 30 and above, or 32.4 percent.

The commission will review applicants' income and eligibility from Sunday through Nov. 13. Before confirming the final results, it will notify applicants of preliminary screening results between Oct. 30 and Nov. 2, and provide an objection period from Nov. 2 to 5.

Applicants who receive notice that they are eligible can open an account on the mobile app of a handling institution from Nov. 16 to 27, excluding weekends.

Existing subscribers to the Youth Leap Account can also switch if they meet the requirements for Youth Future Savings and pass screening.

If applicants do not complete a special early termination during the account-opening period, they cannot make payments into Youth Future Savings. In that case, the existing Youth Leap Account will remain in place, and the Youth Future Savings account with halted payments must be closed. Reapplication is possible after 2 months have passed from the time of closure.