Financial Authorities Launch 'Youth, Finance My Way' Financial Education Campaign

The financial authorities have decided to intensively carry out a youth financial education campaign under the theme of 'Finance Led by Me.'

On the 26th, the Financial Services Commission held the '2024 1st Financial Education Council' at the Government Seoul Office in Jongno-gu, Seoul, chaired by Vice Chairman Kim So-young, to discuss the promotion plan for the youth financial education campaign, financial education achievements, and plans.

[Image source=Yonhap News]

Vice Chairman Kim said, “The core of government financial policies such as the Youth Leap Account, expanded benefits of the Individual Savings Account (ISA), and corporate value-up programs is to support the asset formation of the people,” adding, “For these policies to be effective, financial education must be conducted simultaneously.”

At the meeting, the agenda item 'Youth Financial Education Campaign Promotion Plan' was approved. This plan was prepared in recognition of the urgent need for financial education for young people, as social issues have arisen such as the concentration of jeonse fraud victims among the youth, the craze for virtual assets and overseas stock investments, and the rapid increase in the proportion of borrowing to invest mainly among those in their 20s and 30s.

In particular, during the process of conveying the necessity of financial education to young people, it was judged that the methods to raise awareness were somewhat insufficient, and there was a lack of guidance on how to use financial education content and programs. Accordingly, the financial authorities plan to actively promote the necessity of financial education and educational information through major media preferred by young people and to carry out a financial education campaign so that young people can easily access financial education anytime and anywhere.

The Financial Services Commission plans to conduct a basic financial learning campaign by providing financial knowledge related to everyday financial transactions closely linked to real life, and information on how to use financial education content through newsletters and new media channels, allowing young people to share their daily financial transaction experiences and concerns and develop a sense of familiarity with finance, timed to when education is necessary and effective.

Vice Chairman Kim stated, “For the youth financial education campaign discussed at today’s meeting to be successfully promoted, efforts by the authorities alone are insufficient, and active participation from the entire financial sector is essential.”