Good Practices and Innovations in Public Governance 2003-2011

Good Practices and InnovATIONS in Public Governance
A second strategy is to minimize the number of dropouts from the programmes by
closely monitoring all participants and providing them with support services.
Through business arrangements with private organisations and Seoul City agencies,
the programme participants can receive services ranging from counselling to job
placement. The individualized attention and availability of support encourages the
participants to stay in the programme.
A third strategy is to increase the potential for self-reliance by helping participants develop
human and social assets as well as financial assets. In this context, the programme
participants are provided with financial education, financial counselling and life planning
services in order to nurture a habit of reasonable spending and savings and investment.
In addition, the project has actively supported the creation of an online community
for the participants, which in turn has led to voluntary offline gatherings and
collaborative human networks. Such online and offline gatherings have made a positive
contribution to information sharing and continuous participation in the programmes.
The success of Hope-Plus and Ggum-Na-Rae Savings is evident from a number of
indicators:
• Of 10,077 participants who started in 2009; a total of 9,931 still remained in
the programmes as of April 30, 2010. That translates into a remarkably high
retention rate of 98.7 percent.
• The combined savings of programme participants reached 9.327 billion won
(US$8.403 million) in November 2009.
• In a December 2009 survey of 462 Hope-Plus Savings account holders, 98
percent of the respondents said that the programme encouraged them to be
self-reliant. Another 92.9 percent said the programme was helpful to their family
finances, 87.4 percent were satisfied with the financial-skills training, 80.8
percent felt enhancement in quality of life and 71.4 percent reported improvement
in family relationships.
• Qualitative surveys of 98 families involved in the pilot found that their attitudes
about their lives improved as they moved through the programme phases. At the
initial stages, families were mostly worried and hopeful at the same time. In the
middle phases, they looked back and reflected on their past, made habitual saving
a part of their lives, developed clearer goals and formed positive attitudes
and stronger family bonds. At the final stages, they felt a sense of achievement
and planned to continue saving even after completing the programme.
• The Hope-Plus Savings Account programme has inspired central government
agencies such as the Ministry of Health and Welfare and the Ministry of Gender
Equality and Family, as well as a large number of local governments, to
consider similar initiatives.
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