From 2025, there will be a significant change in the high school education field. The Financial Services Commission has established a new subject called ‘Finance and Economic Life’ to prevent financial damage to young people and form proper financial values. This subject aims to help young people acquire practical financial knowledge and strengthen their ability to grow into future economic entities.
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[Korean Today] Financial Services Commission © Reporter Seungmin Hyun |
Many young people are currently exposed to various financial problems such as financial fraud and illegal private loans. To prevent this, the Financial Services Commission has decided to include basic financial knowledge in school education. The subject of ‘Finance and Economic Life’ is designed to systematically teach students practical financial activities such as rational consumption, savings, and investment.
This course focuses on real-life topics to engage students. It is integrated with other subjects, such as learning about loan repayment and investment rate of return in math class or learning vocabulary related to stock investment in English class. This approach helps students understand the importance of finance in a practical way and apply it in their lives.
For the successful establishment of this subject, cooperation between financial institutions and educational institutions is taking place. For example, the Korea Housing Finance Corporation provides housing finance materials that can be used in the ‘Finance and Economic Life’ subject, and the Life Insurance Association supports experiential finance lectures. In addition, various organizations such as the Financial Supervisory Service and the Credit Recovery Committee plan to develop customized content and teaching materials and provide them to schools.
Kim So-young, Vice Chairman of the Financial Services Commission, emphasized that the new subject will play an important role in preventing financial problems and forming proper economic values among young people. She added that financial education should not remain as an elective subject, but should develop into an educational system that naturally fosters financial capabilities starting from elementary school.
The Financial Services Commission plans to continue to reflect the opinions of the educational field and further enhance the financial education program through this briefing session. In addition, it plans to listen to the voices of the field and provide necessary support through school visits and additional briefing sessions in the future. It is hoped that the establishment of this subject will contribute to the development of sound economic entities for future generations.
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