An Exploratory Study of Soldiers' Attitudes Toward a Matched Savings Program in Korea

Abstract

This study explores the possibility of implementing a saving program for military soldiers in Korea. Over the past decade, asset-based programs have been expanded in Korea. Using a vignette method describing a military matched savings program and logistic regression, this study examines soldiers' attitudes toward a matched savings program. This study with a final sample of 224 soldiers in a Brigade in Korea found that 67% of survey participants are willing to join a savings program. In addition, most soldiers expect the program to have a positive impact on their military life, saving habits, and life after army service. A logistic regression analysis found that family relationship, duty type, rank, and age are significantly related to a soldier's willingness to join the program. The study provides policy and practice implications in that a military savings program may help soldiers to adapt to army service and prepare for life after army service. This study concludes with possibilities for future research when examining soldiers' attitudes toward a military savings program.