Financial Literacy of University Students in Korea : Focusing on the Case of Chung-Ang University

Abstract

Previous studies suggests that many Korean university students have poor financial literacy due to lack of educational infrastructure and education centered on college admission exam. Many researchers suggest that education to improve the university students’ financial literacy is needed. Chung-Ang University is currently making efforts to improve the financial literacy of non-business major students by setting ‘accounting’ as the essential liberal arts course. The purpose of this study is to investigate the implications of the accounting education case of Chung-Ang University in improving the financial literacy of Korean university students.