Korean adults' financial literacy higher than OECD average, survey finds

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Published: 29 Apr. 2025, 09:18

A loan section at a bank in Seoul [NEWS1]

Korean adults' financial literacy is higher than the Organisation for Economic Cooperation and Development (OECD) average, a report showed Tuesday.

According to a survey by the Bank of Korea and the Financial Supervisory Service, the financial literacy of Koreans aged between 18 and 79 came to 65.7 points out of 100 in 2024, marking a fall from the 66.5 points in 2022.

However, it was still higher than the OECD's average of 62.7 points.

The financial literacy test was conducted based on a guideline mapped out by the International Network on Financial Education (INFE), an OECD-affiliated organization. The test assesses literacy based on three sectors: financial knowledge, financial behavior and financial attitude.

The financial literacy test is conducted by each country every two or three years.

Yonhap