Japan will be a good example for South Korea to consider when looking at lowering the suicide rate; measures included focusing on debtors and patients suffering from depression, and increasing the budget toward anti-suicide efforts

2013-08-21 17:15

Student suicides

It’s well known that South Korea has the highest suicide rate among the members of the Organization for Economic Cooperation and Development. Sadly, the number of children who commit suicide is believed to be no less dire than those by adults.
A report released Tuesday by Rep. An Min-suk of the main opposition Democratic Party showed that 139 primary and secondary school students killed themselves last year. The figure was the lowest in three years, but still worryingly hovers above 100. In 2009, 202 students took their own lives, and the number fell to 146 in 2010 and 150 in 2011.
Of the 139 students who committed suicide last year, 88 were high school students, 48 were middle school students and three were in elementary school.
While financial woes were the biggest reason behind many of the suicides in the overall suicide statistics, about 40 percent, or 56 of the 139 students, were motivated by family-related problems. According to the report, 16 percent were triggered by depression and 11.5 percent by exam-related stress.Particularly eye-catching is that just three high school students killed themselves in 2011 owing to problems associated with the opposite sex, but the figure nearly quintupled to 14 ― 11 from high school and three from middle school ― last year. Contrary to general perceptions, suicides caused by school violence were lower, remaining at only two.
Most notable is that many of those students were not reported to be acting differently before committing suicide, but acted normally. This means that any student could choose to commit suicide at a momentary impulse.
While the suicide problem among youngsters is serious enough, there have been few measures at the national level to prevent them from choosing to end their lives. Given that a society is hopeless if it neglects to stem suicide, the time is long overdue for the central and local governments, as well as schools, to act decisively.
The first step in tackling the high suicide rate of students will be to listen to the students themselves. That’s because suicide is caused in large part by structural problems inherent in society.
Japan will be a good example for South Korea to consider when looking at lowering the suicide rate. Last year, the neighboring country succeeded in keeping the number of people who killed themselves below 30,000 for the first time in 15 years, thanks to its comprehensive package of measures. The measures included focusing on debtors and patients suffering from depression, and increasing the budget toward anti-suicide efforts.

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Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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