The financial district of Yeouido in Seoul. (Yonhap)
SEOUL, Sept. 8 (Korea Bizwire) — As the MZ generation’s interest in money-making techniques grows, an increasing number of South Korean companies are introducing wealth management programs as part of their in-house welfare programs.
Samsung Electro-Mechanics Co. received applications for participation in a free-of-charge financial consulting program for employees through its internal network late last month.
With a quota of 150 applications, this program was fully booked in just two hours.
Employees can select the topic that they’re interested in, including stocks, funds and spending management, and the company arranges one-on-one consultations with outside professionals.
Samsung Biologics Co. launched a similar program in June and this program is already fully booked until October.
In particular, millennial employees in their 20s and 30s have strong interest in wealth management consulting programs.
According to the Hana Institute of Finance, millennials diligently collect information through various channels such as the Internet, money-making apps and securities firms’ reports even when making small investments.
From the perspective of companies, there is a benefit in offering consulting to employees who could be distracted by thinking about investment in stocks or cryptocurrencies.
In particular, companies are focusing on preventing the risk arising from speculative investments among employees. If these risky investments fail, it could impact not only the private lives of employees but also their performance at work.
Lina Jang (linajang@koreabizwire.com)
