Hanwha Investment & Securities Publishes Analysis of 'Financial Literacy Test' Results

[Asia Economy Reporter Minji Lee] Hanwha Investment & Securities announced on the 20th that it analyzed the results of the ‘Financial Literacy Test’ conducted in October and published them on its official blog ‘Life Portfolio.’

The ‘Financial Literacy Test’ is specialized financial care (financial management) content that helps objectively assess one’s level of financial knowledge and fill in any gaps.

A total of 3,661 people participated in this test, and based on the test scores, the levels were divided into five categories. A higher level indicates a higher level of financial literacy.

The highest financial literacy Level 5 accounted for 26%, Level 4 for 47%. Level 3, representing those interested in investing but still needing more study due to insufficient financial knowledge, was 22%, and Level 2, those who just started studying investment, was 5%. There was no Level 1.

The question with the most correct answers was about ‘App-tech,’ which refers to making money using smartphone apps, with 92% of respondents answering correctly. Additionally, more than 85% of respondents accurately knew what ESG is.

On the other hand, the question most frequently answered incorrectly was about the ‘Gray Rhino,’ a situation where signs of risk appear and can be prevented in advance, but the impact is overlooked and not addressed; only 38% of respondents answered correctly.

Furthermore, questions related to the relationship between interest rates and bond prices, and the meaning of active funds also showed low correct answer rates.

Shin Choong-seop, Executive Director of the Management Support Office at Hanwha Investment & Securities, stated, “Financial literacy requires continuous exposure to related content and familiarity to achieve results,” and added, “Hanwha Investment & Securities will continue to provide content to improve financial understanding so that people can start sound financial practices.”

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