Practical financial education will be introduced in high school classrooms starting next semester. The government aims to build financial capabilities that students can immediately apply in society, from preventing voice phishing fraud to asset building and credit management.
According to financial authorities on Wednesday, an elective course called "Finance and Economic Life" will be introduced for second-year high school students starting next year. The course is not included in the college entrance exam and will be graded on an absolute evaluation basis. Five textbooks have currently received certification: Chunjae Education, Eobooks, Eomedia, Kyohaksa, and Cmass. All five textbooks consist of four units: Happy and Safe Financial Life, Income and Expenditure, Savings and Investment, and Credit and Risk Management.
The most notable feature of the five textbooks is that they move beyond concept memorization to explain concepts and methodologies applicable to financial decision-making at a level appropriate for high school students. Unit 3, "Consumption and Savings," the core of the curriculum, covers not only the characteristics of financial products such as savings, stocks, funds, and bonds, but also investment methodologies traditionally learned through family experience.
For example, Chunjae Education introduces the so-called "account splitting" method of dividing spare money by purpose, and explains investment principles by citing stock market proverbs such as "Buy straw hats in winter" (buy when undervalued). Kyohaksa emphasizes the importance of portfolio diversification by investing across 10 to 15 stocks, while Cmass and Eomedia recommend the "100 minus your age" rule, advising that the proportion of risky assets such as stocks should decrease as one gets older.
Financial crime prevention education, which has emerged as a social issue, is also given significant coverage. Each textbook introduces specific fraud cases such as "phishing scams using artificial intelligence" and "financial fraud using prepaid SIM cards," and provides step-by-step response guidelines. Eomedia even details the characteristics of rampant financial pyramid schemes, including emphasis on high returns and business stability, and high initial interest payments.
The textbooks also cover credit management methods that young adults entering society tend to neglect. They point out that easily overlooked behaviors in daily life, such as overdue mobile phone bills, can drag down credit scores, and specifically show how interest rates vary according to credit levels.
Current financial issues are also addressed. Chunjae Education and Cmass present topics for exploration such as "relief policies for those who failed at debt-financed investing" and "credit amnesty policies," prompting reflection on excessive investment culture among young people and appropriate policy responses. The intention is to have students think about dilemmas they may face in the real world.
However, virtual assets receive limited coverage compared to public interest in the topic. All five textbooks merely mention the emergence of virtual assets as one element of "changes in the digital financial environment." Kyohaksa in particular states that "debate continues over whether virtual assets can be considered not only currency but also a stable investment target." This is somewhat disconnected from current financial market trends, given that the government's second-phase virtual asset legislation is now taking shape.
Financial authorities expect this curriculum to help form sound financial attitudes and habits among young people. As stock and cryptocurrency chat rooms targeting inexperienced young people and rental deposit fraud have emerged as social problems, demand for basic financial literacy has grown. Financial authorities are continuing support to help the course take root in schools, including conducting separate training for teachers next month. A financial authority official said, "We are also continuing to develop content that can be used in high school classes."
