by Yoo Jaehoon
Published 27 Feb.2024 15:01(KST)
Updated 27 Feb.2024 15:07(KST)
On the afternoon of the 27th, the Financial Supervisory Service (FSS) announced that it held the '2023 One Company One School Financial Education' Best Practices Awards Ceremony jointly with six financial associations, including the Korea Federation of Banks. More than 100 people, including FSS Governor Lee Bok-hyun, attended the event, where outstanding financial education cases were introduced and 80 contributors were awarded.
The One Company One School Financial Education program involves financial companies' headquarters and branches nationwide forming sisterhood ties with nearby elementary, middle, and high schools to provide students with experiential and visit-based education, club support, and other financial education activities. As of the end of last year, about 8,600 schools nationwide have established partnerships with financial companies and are conducting financial education.
For elementary school students, the program stimulates interest and encourages healthy spending habits through activities such as allowance ledger writing and board games. For middle and high school students, it educates on preventing harm and managing credit by introducing cases of new and variant illegal private financing, such as proxy deposits and durable goods loans.
At the awards ceremony, six companies including NongHyup Bank, Korea Citibank, Shinhan Life, DB Insurance, NongHyup Central Association, and the Credit Recovery Committee received the FSS Governor’s Award. Additionally, two schools, including Wolchon Middle School, also received the FSS Governor’s Award.
Wolchon Middle School in Seoul, which received the FSS Governor’s Award, has formed a One Company One School partnership with Shinhan Life and Kyobo Securities and is operating a 'Career-Linked Pilot Semester' after the second-year middle school final exams. Wolchon Middle and the financial institutions conducted face-to-face class education using lectures, quizzes, and group board games, as well as broadcast education. They also screened a financial musical in the auditorium for all third-year students.
Governor Lee said, "The achievements of the One Company One School financial education program are exemplary cases obtained through the shared recognition of the necessity of school financial education and active participation by schools and financial companies. The FSS will continue to communicate with schools and the financial sector to develop diverse content and strengthen instructors' capabilities."
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