The South Korean government is taking action as cases of military personnel falling into debt through leveraged stock trading and online gambling have rapidly increased. Analysts say that while expanded smartphone use and rising military pay have improved investment accessibility, a lack of financial education has caused youth debt problems to surface first within the military.
Defense Ministry to Join Financial Education Council
According to the financial investment industry on January 16, the Financial Services Commission (FSC) plans to submit a revised enforcement decree of the Financial Consumer Protection Act to the Cabinet meeting on January 21, adding the Defense Minister to those who can nominate members of the Financial Education…