Seoul Welfare Foundation - Peach Market & Shinhan Card Provide Easy-to-Understand Financial Information to Financially Vulnerable Groups

Seoul Welfare Foundation-Peach Market-Shinhan Card MOU Signed... Providing Easy-to-Understand Financial Information Content
Conveying the Value of Money, Spending and Saving, Card Usage, and Voice Phishing Prevention Through Storytelling

[Asia Economy Reporter Lim Cheol-young] The Seoul Welfare Foundation announced on the 3rd that it signed a business agreement on the 2nd with Peach Market and Shinhan Card to provide easy-to-understand financial information to financially vulnerable groups, including people with developmental disabilities participating in the ‘Seoul Severe Disability Irum Account.’

The support targets include about 2,700 subscribers of the ‘Irum Account,’ which Seoul City has been implementing since 2018 as the nation’s first initiative to help young people with developmental disabilities and other severely disabled individuals raise seed funds, as well as elderly and other financially vulnerable groups.

According to the business agreement, the nonprofit organization Peach Market and Shinhan Card will develop and produce financial information content such as financial books and educational videos for financially vulnerable groups. The Seoul Welfare Foundation will provide the content to these groups and use it as financial education materials for participants of the ‘Irum Account.’

The main content includes educational materials on the value of money, consumption and savings, and how to use cards, delivered easily in a storytelling format. Educational videos to prevent digital financial crimes such as voice phishing will also be provided.

With the expansion of digital non-face-to-face financial services due to COVID-19, severely disabled individuals and the elderly are experiencing difficulties in acquiring and utilizing financial information. In particular, people with developmental disabilities and other severely disabled individuals are often ‘slow learners’ who can read but have difficulty understanding content, making access to information itself challenging.

Seoul City plans to increase accessibility to financial information for financially vulnerable groups such as severely disabled individuals and provide opportunities to utilize this information. Furthermore, it aims to prevent digital financial crimes such as voice phishing.

Kim Sang-cheol, CEO of the Seoul Welfare Foundation, said, “Recently, as digital non-face-to-face financial services have expanded due to COVID-19, voice phishing damage among financially vulnerable groups such as people with developmental disabilities and the elderly has increased. We expect that this agreement will improve financial information accessibility for financially marginalized groups, including subscribers of the ‘Irum Account.’”

This content was produced with the assistance of AI translation services.