Kim So-Young, Vice Chairman of the Financial Services Commission, "Resumption of In-Person Financial Education"

2022 1st Financial Education Council Meeting Held

On the afternoon of the 21st, the Financial Services Commission held the 1st Financial Education Council meeting of 2022 at the Seoul Government Complex, chaired by Kim So-young, Vice Chairman of the Financial Services Commission. The meeting reviewed the achievements of financial education initiatives in 2021 and the first half of 2022, and discussed the direction for financial education in the second half of the year.

[Asia Economy Reporter Song Hwajeong] The Financial Services Commission has resumed face-to-face financial education, which had been suspended due to COVID-19. Additionally, a Financial Capability Survey Task Force composed of experts in the financial education field has been formed to assess the capabilities of financial consumers, with plans to conduct a financial capability survey next year.

On the 21st, the Financial Services Commission held the first Financial Education Council meeting of 2022, chaired by Vice Chairman Kim Soyoung, to review the achievements of financial education initiatives and discuss the direction for financial education in the second half of the year.

At this meeting, the council approved the establishment of operational regulations for the Financial Education Council, allowing experienced private sector experts in financial education to directly participate in the policy decision-making process through joint meetings.

In her opening remarks, Vice Chairman Kim stated, "The need for financial education is increasing in response to growing volatility in the economic and financial markets, the spread of digital financial services, and the rise in financial fraud damages." She added, "We will resume face-to-face financial education, which had been somewhat restricted due to social distancing, to eliminate blind spots in financial education, while also enhancing the quality of non-face-to-face education."

Chairman Kim also said, "We have formed a Financial Capability Survey Task Force composed of experts in financial education to assess the capabilities of financial consumers and will conduct a financial capability survey in 2023." She emphasized, "We will strengthen collaboration with local governments and public institutions to respond to new educational demands and implement customized financial education considering the characteristics of education demanders."

The Financial Services Commission plans to resume on-site education visits to military units, correctional facilities, and employment centers, which had been low due to social distancing, and will also conduct experiential education for youth and the elderly using financial education facilities. To meet the increasing demand for on-site education, the commission will expand instructor training and workshops, and in response to the growing proportion of online education, will hold instructor workshops to enhance non-face-to-face lecture capabilities.

Furthermore, the commission will fully activate a practical consultative body to jointly develop experiential financial education content and implement detailed tasks announced in the 2022 Financial Education Enhancement Plan, aiming to provide customized financial education that considers the characteristics of each life cycle stage.

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