Program includes education on voice phishing and loan fraud prevention; foundation matches savings of 1.5 million won ($987)

Woori Financial Group's Woori Financial Future Foundation announced Monday it will run the "Self-Reliant Youth WOORI CHANCE Financial Education" program.

The inclusive finance initiative aims to build the economic capabilities of young adults between the ages of 22 and 29 who have left state care facilities and must now live independently. A total of 200 participants are expected to take part in the sixth and seventh cohorts of the program.

A special lecture held Saturday featured volunteer speakers from Woori Bank and Woori Financial Capital. Employees shared practical financial knowledge essential for those entering adult life, covering topics such as voice phishing prevention, loan fraud protection and credit management.

Participants receive 12 sessions of personalized one-on-one online financial education over six months, building the foundational skills needed for economic independence.

Starting this year, the program also introduced a supporters system in which graduates from previous cohorts serve as mentors for newer participants, creating a self-reinforcing cycle of peer knowledge-sharing.

Woori Financial has also set up a savings matching benefit. If a participant saves at least 1.5 million won ($987) during the six-month program, the foundation contributes an additional 1.5 million won — giving participants a combined 3 million won ($1,974) lump sum. The initiative is designed to go beyond financial literacy, offering young people an early experience of building meaningful savings and helping them develop sound financial habits as they start out on their own.

Woori Financial has been expanding its youth-focused inclusive finance efforts across the group. In March, it launched the "Woori WON Dream Living Expense Loan" for financially vulnerable individuals, including young adults, who have difficulty verifying income. Chairman Lim Jong-ryong also stressed the importance of the effort Monday at the Advanced Strategic Industries Finance Council. "Youth are the core generation that will lead our future, and we must continue providing practical financial support so they do not lose hope," he said.


hyuk@heraldcorp.com