The international child rights NGO Save the Children announced that, together with Woori Financial Group ABL Life Insurance, it held the launch ceremony for the 'WithUri A Better Life Project' on December 20, targeting 100 young adults preparing for independence nationwide.
According to the Ministry of Health and Welfare, over the past five years, a total of 8,586 young adults preparing for independence have exited protective care nationwide, with 1,000 to 2,000 individuals starting independent living each year. While their average monthly income remains at approximately 1.65 million won, the debt holding rate stands at 33.4%, and the average debt per person is about 20.2 million won, indicating a significant economic burden.
Due to a lack of financial knowledge and experience, many face difficulties making rational decisions, resulting in not infrequent cases of credit management failure or risk of accumulating debt. In addition, with low insurance subscription rates, the likelihood of facing economic crises increases in the event of illness or accidents. As existing support policies for independence have focused mainly on short-term assistance such as housing and living expenses, support in the financial and insurance sectors, which is crucial for long-term future planning and establishing a social safety net, remains relatively insufficient.
This project was designed to address these real-world challenges by providing integrated support, including specialized financial education, future planning grants, and the establishment of insurance safety nets, so that young adults preparing for independence can plan for their future from a long-term perspective and prepare for crises. During the launch ceremony, the project was introduced, and sessions included specialized financial education to help systematic financial understanding and mentoring lectures from young adult mentors who have prepared for independence. Through these programs, participants learned practical content applicable to daily life, ranging from basic financial and insurance knowledge to credit management, asset building, and risk mitigation strategies.
Kwak Heepil, CEO of Woori Financial Group ABL Life Insurance, stated, "The independence of these young adults is not just a personal issue but a challenge that requires the attention of all of us," adding, "ABL Life Insurance will make ongoing efforts to ensure that this project goes beyond one-off support and helps young people, the protagonists of the next generation, grow up healthy in our society."
Kim Heekwon, Head of ESG Business Division at Save the Children, said, "What young adults preparing for independence need is not short-term support, but the capacity to plan for a stable future," and added, "Save the Children will continue to support these young adults so that they can establish a social safety net and build a stable foundation for their lives through this project."
The 'WithUri A Better Life Project' will be conducted from December 2025 to July 2026 for 100 young adults preparing for independence residing nationwide, and will be jointly operated by Woori Financial Group ABL Life Insurance and Save the Children.
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