Addition of Ministry of SMEs and Startups and Fair Trade Commission to Economic Education Management Committee Members

Draft Amendment to the Enforcement Decree of the Economic Education Support Act
Deliberated and Resolved at the Cabinet Meeting

[Image source=Yonhap News]

The Small and Medium Venture Business Department and the Fair Trade Commission will be added as members of the Economic Education Management Committee, which establishes economic education policies.

The Ministry of Economy and Finance announced on the 19th that the partial amendment ordinance of the "Economic Education Support Act Enforcement Decree" containing this content was reviewed and approved at the Cabinet meeting held on the same day.

According to the amended ordinance, the Small and Medium Venture Business Department, which oversees entrepreneurship education, and the Fair Trade Commission, which oversees consumer education, will newly participate in the "Economic Education Management Committee," a national economic education policy consultative body under the Ministry of Economy and Finance.

Through this, the Ministry of Economy and Finance explained that active online and offline linkage is expected in the Ministry's economic education programs, nationwide regional economic education centers, and the digital economic education platform scheduled to launch in June.

The scope of economic education promotion and cooperation with the private sector will also be expanded. First, the scope of entrusted tasks related to economic education will explicitly include "management and operation of the economic education portal" and "economic education status and awareness surveys," and the institutions eligible for task entrustment will be expanded.

Previously, entrusted institutions were limited to the Korea Development Institute, Korea Consumer Agency, and the Korea Chamber of Commerce and Industry, but going forward, the Economic Education Association and economic education organizations meeting certain requirements will also be eligible for task entrustment.

The Ministry of Economy and Finance explained that through cooperation with private economic education institutions and organizations, economic education programs inside and outside schools are expected to expand.

Meanwhile, with this amendment to the enforcement decree, the digital economic education platform newly established in June will also allow specialized institutions in the field to manage and operate content and the platform.

Enacted in 2009, the Economic Education Support Act legally mandates support so that citizens can acquire knowledge related to economics such as consumption, production, and finance, and make rational decisions.