Financial Counseling Center to Visit Military Units... One-on-One Counseling Begins in Late November
Professional financial counselors will visit military units in person to provide young people serving in the military with one-on-one, personalized financial counseling. The initiative aims to support their systematic financial management, as they may have difficulty accessing in-person counseling because of restrictions on time and location.
The Financial Services Commission, the Ministry of National Defense, and the Korea Inclusive Finance Agency said on October 27 that they would operate a "Visiting Financial Counseling Center" at military units. Counseling is scheduled to begin in late November. Since July this year, the FSC and KINFA have provided online financial assessments and one-on-one personalized financial counseling to all young people seeking advice through "Financial Counseling for All Young People." The visits to military units were arranged in consideration of the difficulty young people serving in the military face in getting in-person counseling at a time that suits them.
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Military units interested in receiving counseling can apply to KINFA by November 13. KINFA and each unit will then coordinate a detailed schedule, after which professional financial counselors will visit the unit. Units seeking instruction on managing assets, income, credit, and debt will also be offered group financial management education alongside individual counseling. "Financial Counseling for All Young People" is available to any young person anywhere in the country. Young people who receive counseling will also be eligible for a 0.2-percentage-point preferential interest rate benefit on the Youth Future Savings Account. Kim Donghwan, director general of the FSC's Financial Consumer Bureau, said, "Together with the Ministry of National Defense, we will actively support young people serving in the military so they can develop the capabilities to manage their finances systematically on their own."
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