Vice Chairman Do Kyusang: "Strengthening Financial Education in Schools"

[Asia Economy Reporter Song Hwajeong] Do Gyusang, Vice Chairman of the Financial Services Commission, announced plans to strengthen financial education in schools and enhance the financial education promotion system to improve consumers' financial capabilities.

According to the Financial Services Commission on the 21st, Vice Chairman Do made these remarks in a congratulatory speech at the Organization for Economic Cooperation and Development (OECD) Global Money Week (GMW) event held from today until the 27th.

In his speech, Vice Chairman Do emphasized, "With the increasing complexity of financial products and longer life expectancy, the importance of financial education to build financial capabilities and prepare for the future is growing." He added, "Organizations such as the OECD and the World Bank (WB) are also calling for strengthening financial education as part of financial inclusion," and stated, "The Financial Services Commission will focus on strengthening financial education in schools to enhance consumers' financial capabilities."

First, the Financial Services Commission plans to strengthen financial education in schools in cooperation with related organizations so that students can acquire financial knowledge linked to real life and lead proper financial lives in the future. Additionally, it will develop educational content utilizing metaverse technology and diversify the delivery methods of financial education by expanding experiential learning approaches. Along with this, the commission will expand the participation of private experts in financial education policy-making and establish an organic cooperation system among financial education institutions to solidify the financial education promotion system.

Vice Chairman Do added, "I hope the OECD Global Money Week event will serve as an opportunity to raise overall social awareness of the importance of financial education."

This year's Global Money Week, themed "Prepare for the Future, Learn Finance!", will review the current state of financial education and discuss measures to strengthen financial consumer protection and activate financial education in schools. Furthermore, customized and experiential financial education will be provided to various financial consumer groups such as children and adolescents, workers, and the elderly, enabling them to easily access financial education and acquire correct financial knowledge and attitudes.

Since 2012, the OECD has designated the fourth week of March each year as Global Money Week, recommending member countries to autonomously conduct financial education campaigns.

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