Seoul: South Korean adults' financial literacy surpasses the Organization for Economic Cooperation and Development (OECD) average, as revealed by a recent report. According to Yonhap News Agency, South Koreans aged between 18 and 79 scored 65.7 points out of 100 in financial literacy for 2024, a slight decrease from 66.5 points in 2022. Despite the decline, this score remains above the OECD's average of 62.7 points. The financial literacy assessment was carried out following guidelines established by the International Network on Financial Education (INFE), an OECD-affiliated organization. The test evaluates literacy across three sectors: financial knowledge, financial behavior, and financial attitude. Countries conduct the financial literacy test every two or three years as part of a global initiative to measure and improve financial education.
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