The future of asset-building policy ready for expansion in Korea

Korea marked a decade of asset building with a Ceremony Commemorating the 20th Anniversary of Self-Sufficiency & Welfare Policy and 10th Anniversary of Asset-Building Policy on November 12, 2020.

Hosted by the Korean Ministry of Health and Welfare, and organized by the Korea Development Institute for Self-Sufficiency and Welfare, the ceremony featured Michael Sherraden as the keynote speaker.

Michael Sherraden
Michael Sherraden

Conceived in Michael Sherraden’s seminal book Assets and the Poor in 1991, Child Development Accounts (CDAs) are savings or investment accounts that begin as early as birth with the goal to promote asset building for lifelong development.

Sherraden emphasized the importance of international partnerships in his video keynote address: “Prior research and policy design in the United States somewhat informed these in initiatives, yet Korean policymakers made distinctive decisions to fit the context, challenges and goals of Korea.”

Read more at Center for Social Development.