Long-Term Service Member Savings Plan Launches March 3

Ministry of National Defense signs MOU with four banks and the Military Mutual Aid Association.

Provides financial support of up to KRW 300,000 per month for three years.

Ahn Gyu-back: "Establish firm support for long-term service."

Defense Minister Ahn Gyu-back, third from left, poses for a photo with representatives of cooperating partners and major institutions during an MOU signing ceremony for the Long-Term Service Member Savings Plan at the Ministry of National Defense in Yongsan-gu, Seoul, on Feb. 24, 2026.

The Ministry of National Defense joined hands with major financial institutions to promote long-term service among military officers and boost morale.

The Ministry of National Defense signed MOUs with KB Kookmin Bank, Shinhan Bank, the Industrial Bank of Korea, Hana Bank, and the Military Mutual Aid Association on February 24, 2026, at its headquarters in Yongsan-gu, Seoul, to launch the Long-Term Service Member Savings Plan promoting long-term military officer service. The signing ceremony was hosted by Defense Minister Ahn Gyu-back.

The "Long-Term Service Member Savings Plan" is a program in which personnel selected for long-term service contribute a fixed monthly amount (up to KRW 300,000) for three years, with the government providing a 100% matching contribution. Upon maturity, participants can receive a maximum of KRW 23.15 million.

Eligibility is offered to officers and non-commissioned officers (NCOs) selected for long-term service starting December 1, 2025, with account opening commencing March 3, 2026.

The Ministry of National Defense recognized the need for financial support for officers, building on its operation of the "Installment Deposit to Help Soldiers Prepare for Tomorrow" since 2018 for enlisted soldiers fulfilling their mandatory service, and has pursued related initiatives.

Minister Ahn Gyu-back, while serving as a member of the National Assembly's National Defense Committee in November 2024, proposed a partial amendment to the Military Personnel Management Act to establish the legal basis for fiscal assistance to military officers. The amendment was approved by the National Assembly Plenary Session in January 2026.

Last August, the Ministry of National Defense incorporated the Long-Term Service Member Savings Plan program into the national agenda. Subsequently, the Ministry coordinated with relevant government agencies to secure budget allocation, solicit participating financial institutions, establish the subscription system, and revise related legislation.

Minister Ahn stated, "Based on policies including the establishment of the Long-Term Service Member Savings Plan, we will ensure that support for long-term service is revitalized and a virtuous cycle is established to enhance the attractiveness of military careers." He added, "I expect that this plan will help junior officers and NCOs develop rational spending habits and accumulate assets for their future."

The Ministry of National Defense plans to make dedicated efforts to improve service conditions and welfare for military officers.

By Byeong-No, Yun <[email protected] >

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