Over 200 OFWs taught financial literacy at Incheon seminar

Over 200 Filipino workers in South Korea were taught financial literacy during a September 7 seminar in Incheon, a news release from the Department of Foreign Affairs (DFA) said Monday.

The Filipinos—who came from Busan, Gimhae, Daegu, Ansan, Bucheon, Incheon and Seoul—were taught crucial concepts in financial management and entrepreneurship to aid them in their long term financial planning, the DFA said.

The seminar was organized by Sister Genevieve Jabasa, director of the Bucheon Filipino Migrants’ Community (BFMC), and Marlon S. Albao of the Global Filipino Investors (GFI).
 
Among the speakers were Philippine Ambassador to South Korea Raul S. Hernandez, renowned Filipino financial guru Randell Tiongson, and Floi Wycoco.

Tiongson spoke on the topics of personal finance and investments while Wycoco shared his knowledge of mutual funds and the stock market.

In his talk, Hernandez said the seminar’s aims dovetails with the Philippine government’s advocacy to promote financial literacy and entrepreneurial skills to OFWs and their families through the implementation of the “Joint Migration and Development Initiative Phase II Project (JMDI 2)”  in Regions I, IV-A and XII.

He cited the proactive role of the Philippine Embassy, through the Philippine Overseas Labor Office (POLO), in promoting financial literacy and livelihood opportunities to OFWs in partnership with various Filipino community organizations.
 
These projects include the Reintegration and Preparedness Program Orientation, Courses on Baking, Cake Decorating and Basic Sewing and Financial Literacy and Business Investment Opportunity Seminars.  —KBK, GMA News

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