Woori Bank is teaming up with the Seoul Business Agency to expand financial education for young people and financially vulnerable groups.

Woori Bank said on July 14 it signed a financial education agreement with the Seoul Business Agency on July 13.

The Seoul Business Agency is one of the operators of Seoul Young Tech, a Seoul city programme that supports asset building among young people. Under the agreement, Woori Bank will participate as a financial education partner for Seoul Young Tech.

The two organisations agreed to jointly plan economic and financial education programmes for young people and vulnerable groups and to operate online and offline education channels.

They will also jointly use specialised financial education instructors and education infrastructure. The curriculum will cover daily-life topics such as preventing financial fraud, credit management, asset management, and spending and debt management.

They plan to expand the target group beyond existing youth to include self-reliant youth, reclusive and socially isolated youth, single-parent and unmarried mother households, military service members, vocational high school students and people with developmental disabilities.

Yoon Seok-in (윤석인), a consumer protection department team leader at Woori Bank, said the bank will work with the Seoul Business Agency to support financial capability and economic self-reliance among young people and vulnerable groups.