FSS to expand financial outreach program for children

[Courtesy of FSS]

South Korea’s financial watchdog Financial Supervisory Service (FSS) will expand its outreach program that offers children’s financial education nationwide starting next year.

The program provides close-to-home financial classes for vulnerable children on topics such as allowance management, spending decisions, savings and investment, credit, and insurance.

“We plan to make our outreach project an official program,” the FSS said on Monday. “It will be upgraded to make lessons easier to understand and more useful in real life by factoring in the conditions of vulnerable groups and topics of their interest.”

The outreach project is an early financial education program for children to form healthy financial habits.

The program has gained a lot of interest in the first half of this year with a competition ratio of 7 to 1 for participation.