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KRX looks to education to create ‘healthy investment culture’

June 25, 2013 - 20:06 By Chung Joo-won
Korea’s economic success story is a common subject of discussion, but the economy in terms of finance and investment has remained relatively removed from public attention.

The Korea Exchange, the country’s main bourse operator, in response declared the nation’s “Great Awakening” in finance, aiming to raise people’s awareness of financial products.

The KRX launched a national finance education project in 2003 in the form of a government-designated special training institution. The education project was designed to impart knowledge of capital markets and generate a healthy investment culture.

The decade-old program offers classes to all social brackets, ranging from elementary school kids and seniors, to foreigners and financially-isolated people.

In 2012 alone, about 16,500 people voluntarily applied online and took advantage of the educational program, KRX’s data showed. The number is expected to continue to increase.

The KRX’s training program gained popularity particularly among instructors at elementary, junior high and high schools. The number of applicants increased eightfold over the decade, from about 80 in 2003 to about 640 in 2012.

Due to the growing demand, the Korean bourse in 2010 launched an advanced finance program for teachers. The advanced program offers more specialized knowledge on stocks, derivative financial products and asset management.

“The more they know, the more they teach. The teachers’ program is not only an intellectual gain for teachers but also a powerful driving force to reach down to students,” KRX officials said. The teachers’ program is run in Seoul, Busan, Gwangju and Daegu.

Meanwhile, the KRX also offers an education program for students in Seoul and Busan, with an adjusted level of difficulty based on their school years. The program aims for the development of a healthy economic mind and sound investment culture.

Elementary school students are given a 2-hour program, consisting of a group tour of the KRX, group review of an animation film on the stock market, a quiz and a mock-investment board game. The same program is offered to parents accompanying their elementary school kids.

Junior high and high school students are offered a 3-hour program, which has a 1-hour lecture on the stock market added to the elementary students’ program.

College students and adults are offered a 105-minute program, consisting of a group tour of the KRX, a group review of a KRX promotional film and a 1-hour lecture on the stock market.

But what drew most applicants was the program for the adults. The adult course enjoys high demand from starting employees of financial companies, junior reporters and international visitors, the KRX said. The 2-hour adult course is offered to groups of 20-60 people.

Above all, the KRX makes special effort to bring the financially-underprivileged population back to the financial, economic scene.

These low-income, low-credit people are given a longer, 140-minute course, including a group tour of the KRX, a lecture on the stock market, a group review of an animated film on the stock market and the chance to play a mock-investment board game.

All of KRX’s financial education courses can be applied for at www.krx.co.kr, on a first-come, first-served basis.

By Chung Joo-won (joowonc@heraldcorp.com)