John Lee operates Rich School Family Camp to escape from financial illiteracy

By Deputy Editor Sung Jung wook 

Bloomberg said in a report, "Korea's education is becoming increasingly distorted. We recognize Koreans’ high enthusiasm for education, but they are providing education with the lowest cost-effectiveness, which does not make any changes to the education system suitable for the times."
CEO John Lee said, "The reality is that Korea does not even have a chance to cultivate problem-finding skills because it is geared toward problem-solving education."

Shout out to escape from financial illiteracy!
Wall Street financial companies in the U.S. are leading the global economy.
It is said that this is because high financial knowledge and ability to find problems are sufficiently cultivated in this background.
While working for a Wall Street company in New York, CEO John Lee began talking about financial illiteracy escape when Korea's lack of education, youth's entrepreneurship, and gender conflicts were extremely severe.

Korea's First Rich School Family Camp was opened to escape from financial illiteracy. CEO John Lee said, "The English village is well established in my village. I thought that if parents and children receive financial education together, communication at home would be better. That's why I planned a family camp for the rich school," 
The Rich School Family Camp consists of interesting and fun programs such as changing the overall consciousness of finance, making family financial statements, and changing lives and deal with children's finance easily and closely.

CEO John Lee said, "I hope each family will attend with a light heart that they will be checked for financial health. Q&A time is assigned for each program in the camp.  You have to force yourself to change your lifestyle to ask questions. We can escape financial illiteracy."
He said that the habit of steadily investing in stocks at times like this is more important than looking at the opaque economic situation of the Korean stock market due to the U.S. Fed's high-interest big step only.
Training to look at the volatility of securities should be preceded, and it should be used as a golden opportunity to develop an investment sense.
CEO John Lee said, "There was a big difference between those who saw the pandemic only in the health care sector and those who saw it as a financial and economic sector. As the saying goes, a crisis is an opportunity, it was also a time when I realized the importance of investment. So we can make Korea's finance even more attractive."

Social problems will be solved only when the rigidity of labor is converted to flexibility
CEO John Lee said, "It is important to understand and utilize our country's financial system well. It is also a good way to escape financial illiteracy by paying attention to products that help you become economically independent, such as retirement pensions and pension savings funds.”
He said that currently, looking at Korea's economic situation, it is right to see typical stagflation caused by rising supply costs.
CEO John Lee said, "Korea's labor market rigidity can lead to a burden of supply costs due to weak productivity and a decline in potential growth rates. Therefore, the intensity of the economic recession is gradually strengthening due to interest rate hikes and liquidity recovery. Liquidity withdrawal and interest rate hikes will inevitably proceed to prevent a reversal of the Korea-U.S. interest rate. In the future, labor flexibility needs to be further strengthened."
The Korean economy has already entered stagflation, a combination of economic recession and high prices, and we believe that policies to flex the labor market and reduce corporate supply costs are urgently needed.
The U.S. interest rate hike and the corresponding Korean interest rate hike pressure could induce an economic slowdown, further raising stagflation pressure.
CEO John Lee said, "To overcome the economic crisis, we believe that the creation of a business-friendly environment through effective deregulation and labor market reform leads to stock investment. I believe that private inflation expectations should be stabilized, and fiscal authorities should minimize the inflationary pressure of expansionary fiscal policy through efficient fiscal execution. If there are many economically independent rich people, the birth rate will increase and the gap between the rich and the poor will be minimized."

The biggest problem in Korea is the education system
CEO John Lee said, "The most important key factor for Jews to dominate Wall Street in the United States is close access to financial education at home from an early age and easy to understand.
“While learning this kind of finance as a play, there are amazing things that gradually go to the level of financial experts. Among the world, the highest rate of children in the world, the highest rate of 30 to 50 percent. Jews boast the highest IVY League enrollment rate among ethnic groups in the world, approaching 30-50%.
 “Our country is only 2-3%. I think a revolution in national education is needed to make a person who is active and enterprising in finding problems, not just a person who solves them," he appealed.
Not long ago, Bloomberg pointed out that Korea is the lowest in the OECD in terms of per worker GDP compared to education expenditure per Korean student.
Compared to Ireland, education expenditure is 40% higher, but per worker GDP is 60% lower.
The discrepancy between labor market demand and vocational ability is so severe that half of college graduates do jobs that have little to do with their majors.
Bloomberg believes that education fever is the world's highest level, but at the same time as starting social life, the lack of cognitive and solving skills leads to frequent turnover.

The causes were uniform education, lack of autonomy, and lack of continuous training, which led to lack of goal consciousness.
Bloomberg also pointed out that as the burden on private education increases, it has an adverse impact on the birth rate and mental health of teenagers and young people.
Korea's birthrate fell to the lowest level in the world, and the suicide rate of teenagers last year rose 10.1 percent from the previous year.
Many experts say that Korea has grown so much through education, but now it is acting as an obstacle to the future of our economy with a deformed education system.
CEO John Lee said, "Korea needs to get rid of the test. The U.S. also has SATs, but it doesn't screen students by scores. It focuses on problem-solving skills. “In Europe, it is necessary to carefully analyze Germany's education system. It's a pity that Korea still has the roots of its past exams."

You have to realize that the pleasure of ownership is greater than that of consumption
"Consumption can be fun for a few days," said CEO John Lee. “But it doesn't last long. There is a widespread culture in Korea that consumes in Korea. In case of buying around you, you seem to have an obsession to buy it, too. It's a very wrong perception. The pleasure of increasing the bank balance is even greater." 
K-Financial has sufficient capabilities. CEO John Lee said, "If it becomes a good country for women to live in, the birth rate and employment rate will automatically increase. On top of that, the more people want to become rich, the more high value-added industries spread, the more the gap between the rich and the poor is resolved, and the higher the fertility rate, the more social problems are solved. It's also our society's task to have a lot of female CEOs come out," 
If K-Korean Wave is sweeping the world, CEO John Lee will not stop education for Korean financial illiterates with the confidence that K-Financial will soon lead the world.”