Adapting Western Financial Education And Counseling Models For Use In South Korea

The recent economic crisis in Asia offers western financial professionals the opportunity to share expertise developed over many decades. Using South Korea as an example, this position paper describes how declining purchasing power and employment dislocation affect families. With appropriate modific...

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Bibliographic Details
Published inFinancial counseling and planning Vol. 11; no. 1; p. 61
Main Authors Lown, Jean M, Ju, In-Sook
Format Journal Article
LanguageEnglish
Published Westerville Association for Financial Counseling and Planning Education 01.01.2000
Subjects
Consumers
Coping
Cost control
Counseling
Developed Nations
Economic crisis
Economic development
Economic growth
Economic Research
Employment
Family income
Financial counseling
Financial literacy
GDP
Government (Administrative Body)
Gross Domestic Product
Korean Culture
Laborers
Low income groups
Macroeconomics
Marriage Counseling
Purchasing
Purchasing power
Rural Economics
Social Change
Social Problems
Studies
Underemployment
Unemployment
Workers
South Korea
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Summary:The recent economic crisis in Asia offers western financial professionals the opportunity to share expertise developed over many decades. Using South Korea as an example, this position paper describes how declining purchasing power and employment dislocation affect families. With appropriate modifications consistent with cultural traditions, a western model of financial education and counseling can be adapted to enable Korean consumer and family economics professionals to assist families in coping with the continuing aftermath of the crisis. Cross-cultural collaboration between Western and Korean professionals can facilitate culturally appropriate adaptations of western programs. [PUBLICATION ABSTRACT]
ISSN:1052-3073