Lown & Ju, 11 (1)

Lown, J. M. & Ju, I-S. (2000). Adapting western
financial education and counseling models for use in South Korea. Financial
Counseling and Planning, 11(1), 61-68.

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

Jean M. Lown¹ and In-Sook Ju²

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.


Key words: Economic adjustment strategies, Economic stress,
Financial
counseling, Financial education, Financial planning

1. Jean M. Lown, Professor, Family, Consumer, & Human
Development, UMC
2905, Utah State University, Logan, UT 84322-2905.  435-797-1569;
FAX:
435-797-3845.  Lown@cc.usu.edu 

http://cc.usu.edu/~lown/

2. In-Sook Ju, Korean Pharmaceuticals Manufacturing Association.
Previously
Dr. Ju was an Instructor in Home Economics Education, Korea University.
E-mail: insookju@kornet.net