Kim So-young, the vice chair of the Financial Services Commission, visited the Youth Financial Consulting Center at the Korea Financial Welfare Center on the 29th to check the operational status and held a youth financial meeting. During the meeting, she listened to the challenges faced by young people in asset formation and discussed the direction of financial support for youth.
The one-stop youth financial consulting center, which started operations in December last year, diagnoses the financial situation of individual young people and provides tailored financial consulting and education services based on the diagnosis results by professional consultants.
Kim noted her observation of a consulting session for young people enrolled in the Youth Leap Account. A participant said, “Recently, with increased fixed expenditure, it has become difficult to save, and I’ve had many worries, but through the expert consultation, I was able to understand my income and expenditure and set a financial plan, which is meaningful.”
At the youth meeting, Kim stated that the one-stop youth financial consulting center greatly assists young people in making self-directed financial decisions, and therefore they will actively promote and continue to expand and strengthen the center's role. He added, “In particular, since online services will be fully operational starting in May, we expect that young people will be able to benefit from consulting more quickly and conveniently.”
Regarding the Youth Leap Account, which is approaching a cumulative subscriber count of 2 million, Kim said, “The government will proceed without delay with the introduction of the partial withdrawal service and the reflection of credit scores, as promised initially, while carefully examining whether there are any other necessary system improvements.”