A qualitative study on participants’ perceptions of child development accounts in Korea

ABSTRACT

In 2007, Korea implemented Child Development Accounts (CDAs) for institutionalised children in child welfare systems. Since then, the target group and a matching cap of CDAs in Korea have evolved. The target group expanded to include poor children receiving welfare, whereas the matching cap increased from KRW 30,000 (US$26.53) to KRW 40,000 (US$35.38), which is matched at a 1:1 rate. Despite the expansion, there is little empirical evidence examining the extent to which CDAs have influenced the life of participants. Using a content analysis method with a sample (N = 22), this study examines how CDAs have changed children’s mindsets, saving habits, education, future planning and sponsorship. The findings suggest that CDAs have multiple positive influences on children. This study concludes with policy implications for the inclusive and progressive development of CDAs in Korea.

KEYWORDS:

• Child Development Accounts in Korea
• perceptions of CDAs
• content analysis
• positive impacts on children
• inclusive development of CDAs

Disclosure statement

No potential conflict of interest was reported by the author.

Additional information

Notes on contributors

Chang-Keun Han

Chang-Keun Han is an expert on development and evaluation of asset-based policy.