"Studied Exchange Rates While Preparing for a Trip to Japan"... Financial Supervisory Service Awards Ceremony for Financial Contest

The Financial Supervisory Service (FSS) announced on the 24th that a total of 161 individuals and organizations (142 individuals and 19 institutions) received awards at the 19th Financial Contest. The Financial Contest is an awards ceremony hosted by the FSS to promote financial education, supported by the Ministry of Education, metropolitan and provincial offices of education nationwide, and six financial associations.

In the high school essay category, the grand prize was awarded to Kim Juha from Busanjin Girls' Commercial High School. Kim Juha wrote about her experience preparing for a trip to Japan under the theme "Shall I go on a trip to Japan?" and how she became interested in the weak yen. Her work was praised for effectively conveying how financial knowledge can be applied in everyday life.

In the elementary school video, poster, and comic category, the grand prize went to the "Morning Comes to the Financial Hospital Too" team from Jesuk Elementary School in Gyeongnam. The students from Jesuk Elementary creatively compared lifestyles to avoid for healthy financial living to diseases and expressed this concept through a video.

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In the university student financial contest, the grand prize was awarded to the "Phishing Cats" team from the Korea Maritime and Ocean University and the University of Wisconsin. They proposed a new financial fraud prevention application (app) targeting young adults in their 20s and 30s. The Phishing Cats team focused on the increasing 'quishing' crimes targeting young people who frequently use QR codes, and the rise of 'pharming' scams that lead users to fake websites to steal personal and financial information. They also highlighted the prevalence of so-called 'romance scams,' where perpetrators build trust by showing affection and then demand money. The app proposed by Phishing Cats can provide real-time warnings and educate users on how to respond in dangerous situations.

For outstanding financial education programs, the "Bankit Senior Digital Financial Education" by the Korea Federation of Banks was selected. The Federation developed financial education content that anyone can easily follow by teaching digital financial skills to the elderly, including mobile banking, transfers, bill payments, and financial fraud theory, using actual mobile banking screens from banks.

According to the FSS, a total of 3,331 entries were submitted to the 19th Financial Contest, marking the highest number of submissions since the contest began in 2006.

Lee Bokhyun, Governor of the FSS, said, "I hope the process of preparing for the contest serves as a stepping stone to improve financial skills," and added, "Since serious financial crimes lie behind the convenience of finance, I urge everyone to raise awareness about the importance of financial education among their friends."

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