Hanwha Life is expanding its youth financial education initiatives overseas, building on years of experience in Korea.
Hanwha Life has launched an initiative to establish a financial education ecosystem for young people in Bandung, West Java, Indonesia, in partnership with Save the Children, an international NGO.
The initiative aims to improve financial literacy among Indonesian youth, who face growing exposure to financial risks such as online scams, illegal lending and online gambling amid the rapid expansion of digital finance in the country. Bandung, in particular, is reported to be among the areas significantly affected by illegal lending and online gambling among minors in Indonesia.
Building on its extensive experience in financial education in Korea, Hanwha Life plans to officially launch a financial literacy education module and promote youth-led financial education initiatives in Indonesia.
Building a sustainable financial education ecosystem led by youth, university students and teachers
A feature of the initiative is its focus on establishing a sustainable education system that brings together high school students, university student mentors and teachers, rather than relying on one-off lectures.
Ten high school students at each participating school have been selected as financial education leaders to lead peer education activities, supported by student mentors from Institut Teknologi Bandung (ITB). Teachers will also receive training to become financial education instructors. This model is designed to ensure that financial education continues locally even after the initiative concludes.
In particular, Hanwha Life will officially launch its financial literacy education module next month at BFN Fest, a government-supported fintech event in Indonesia. Designed as an accessible educational package for Indonesian students, educators and government stakeholders, the module is expected to serve as a practical financial education solution for young people across the country.
Ahead of the event, Hanwha Life also plans to produce and distribute social media content highlighting the experiences of youth participants and the initiative’s achievements to raise public interest in financial education.