Kim So-young, Vice Chairperson, "Youth, Importance of Improving Financial Literacy through Financial Education"

Financial Authorities Host OECD 'International Financial Education Week' Event
Theme: "Prudent Choices Today, Secure Future"
Focus on Enhancing Financial Literacy and School-Based Financial Education

The Financial Services Commission announced on the 17th that the Organisation for Economic Co-operation and Development (OECD) 'International Financial Education Week' event, aimed at raising awareness of financial education, will be held simultaneously online and offline until the 23rd.

The OECD selected this year's theme as "Prudent Choices Today, Secure Future" to emphasize the importance of financial education in fostering sound money management skills and a critical perspective on information sources.

On the same day, the financial authorities held a seminar at the Bankers' Hall in Jung-gu, Seoul, under the theme "Measures and Challenges for Activating Financial Education in School Education Following the Introduction of Financial Subjects."

Kim So-young, Vice Chairman of the Financial Services Commission, emphasized at the seminar, "Improving financial literacy through financial education is crucial for young people to better navigate financial markets, discern biased information and knowledge, and make wise decisions for the future."

The Financial Services Commission stated that through the Financial Education Council, it has set the national financial education policy direction as "activating financial education within public education" and "customized financial education by life cycle," and will focus on the following initiatives.

First, since financial subjects will be newly introduced as elective courses in the high school curriculum starting this year, support will be provided to ensure the establishment of these subjects based on suggestions gathered through various channels such as briefings for school officials and consultations with education authorities. This includes conducting teacher training, supporting the development of teaching materials, and providing experiential learning opportunities.

Second, the plan is to strengthen education tailored to the characteristics of each life stage so that help can be received not only in school education settings but also in everyday life at critical financial decision points such as investment, savings, and housing contracts. Furthermore, it was announced that professional financial consulting, including customized financial counseling and analysis of spending and consumption habits, will be supported for financial beginners such as youth to suit their financial situations.

Vice Chairman Kim stressed, "Since financial education contributes to consumers being prepared for unexpected financial shocks, gaining opportunities to build assets through rational financial decisions, and ultimately improving quality of life, the government, related organizations, and the entire financial sector will continue to cooperate to activate financial education."

Starting with the seminar on this day, various events such as online and offline financial education and quiz events will begin at 24 institutions including the Financial Supervisory Service. Financial consumers can receive recommendations for online financial education courses suitable for them and take courses through the e-Financial Education Center and participating institutions' websites.

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