고령소비자의 금융거래에 관한 권익 향상 방안

A Study for Enhancing Consumer Rights and Interests of the Elderly in Financial Sector

Korea will stand on the brink of massive social and economic change as well as the quantitative changes in the population with rapidly aging. To prepare effectively for the aged society, we have a role in ensuring that elderly people have an adequate minimum level of income for life. But the life expectancy of elderly people’s is rising, whereas social safety nets for them are gradually decreasing and the customs of supporting the old parents are weakening. Therefore, in Homo-Hundred Era it is necessary that elderly people on their own can not only be engaged in financial transactions but also manage their own financial affairs and assets safely for economic stability. This study started from an understanding that the promotion of financial elderly consumers rights and interests requires the state s legal and institutional security of their financial activities. Therefore, this study defined ‘financial elderly consumer conceptually and examines main characteristics of them. They are far more vulnerable to mis-sellings due to their physical and mental capacities and likely to lead to fallen victim to fraud than ordinary financial consumers. Then, this paper reviewed the limits of our domestic law for financial elderly consumers and suggested a plan to improve our legislation and policies for the future.