Financial Supervisory Service and Seoul City Join Hands to Support Youth Financial Education

The Financial Supervisory Service (FSS) announced on the 29th that it has signed a Memorandum of Understanding (MOU) to strengthen the financial capabilities of young people living in Seoul. Attendees at the signing ceremony included Kim Mi-young, Director of the Financial Consumer Protection Department at FSS; Lee Seok-joo, Director of the Financial Education Bureau at FSS; Kim Byung-min, Deputy Mayor for Political Affairs of Seoul; and Kim Cheol-hee, Director of the Future Youth Planning Office of Seoul.

Through this collaboration, both organizations agreed to work organically together to promote youth financial education. The FSS plans to provide customized education on asset formation, economic independence, and prevention of financial fraud to young people participating in various youth-targeted programs operated by Seoul City. The FSS will also directly participate in various events hosted by Seoul City, such as 'Youth Week,' to listen to diverse opinions and promote FSS financial education and programs.

Additionally, the FSS will link its systems with Seoul City's youth support website and Application Programming Interface (API). Programs targeted for linkage include 'Seoul Young Tech,' which supports basic asset formation and independence for young residents of Seoul, and 'Cheongnyeon Mongttang Jeongbotong,' a comprehensive youth support platform providing information on Seoul City youth policies, financial welfare, housing, education and culture, and space rental. Through API integration, financial education content will be exchanged and various educational information will be provided, offering young people diverse opportunities for financial education.

Director Kim stated, "With the recent increase in young people's interest in stock and virtual assets as investment methods and the rise in financial fraud cases, the need for financial education has become even more emphasized. We will spare no effort to provide the necessary support to activate youth financial education going forward."

Deputy Mayor Kim said, "Recently, economic difficulties faced by young people have increased due to the combination of employment challenges, rising prices, and the temptation of financial fraud. I believe financial education is essential for young people to overcome economic hardships. I hope this agreement will help promote youth financial education."

Kim Mi-young, Director of the Financial Consumer Protection Department at the Financial Supervisory Service (right), and Kim Byung-min, Deputy Mayor for Political Affairs of Seoul (left), are signing a Memorandum of Understanding (MOU) to strengthen the financial capabilities of young residents in Seoul. Photo by Financial Supervisory Service