Gangdong-gu Prepares 'Jangbaljang Relief Plan' to Lend Fines to Socially Vulnerable Groups
Funding Raised Entirely Through Donations, Expecting Spread of Beautiful Donation Culture
[Asia Economy Reporter Jong-il Park] Gangdong-gu (Mayor Lee Jeong-hoon) operates the ‘Hope Stepping Stone Fund,’ which lends fines to socially vulnerable groups such as juvenile heads of households, welfare recipients, and lower-income classes who have been sentenced to fines for minor offenses but cannot pay and thus face detention in labor camps.
This initiative aims to break the vicious cycle where individuals sentenced to small fines are unable to pay due to financial difficulties and are instead subjected to labor sentences, resulting in the loss of their economic foundation.
On the 11th, Gangdong-gu amended the ‘Gangdong-gu Fund Management Ordinance Enforcement Rules’ to establish a legal basis for the system as a relief measure for ‘small fine defaulters’ in the region.
This valuable achievement was obtained after efforts since last year to improve representative cases of social, economic, and penal inequality through related legal reviews.
Additionally, through a naming contest among employees, the fund was named the ‘Hope Stepping Stone Fund.’
The Hope Stepping Stone Fund will be operated entirely with donations voluntarily contributed by individuals, companies, and organizations. The district expects to start lending as early as the second half of this year if funding is smoothly secured.
The amount lent will be up to a maximum of 3 million KRW per person, with lending decisions made through deliberation by the fund’s subcommittee. The loan must be used to pay fines and repaid interest-free over one year in equal installments after a six-month grace period.
Applicants eligible for the fund loan include basic livelihood security recipients and lower-income classes. Those wishing to borrow must submit a fund loan application form along with required supporting documents to the Gangdong-gu Labor Rights Center.
Hot Picks Today
About 100 Trillion Won at Stake... "Samsung Strike Is an Unprecedented Opportunity" as Prices Surge 20% [Taiwan Chip Column]
- "Heading for 2 Million Won": The Company the Securities Industry Says Not to Doubt [Weekend Money]
- "Envious of Korean Daily Life"...Foreign Tourists Line Up in Central Myeongdong from Early Morning [Reportage]
- "Anyone Who Visited the Room Salon, Come Forward"… Gangnam Police Station Launches Full Staff Investigation After New Scandal
- Did Samsung and SK hynix Rise Too Much?... Foreign Assets Grow Despite Selling [Weekend Money]
Lee Jeong-hoon, Mayor of Gangdong-gu, stated, “The Hope Stepping Stone Fund, built through the small contributions of residents, will become a reliable stepping stone for those in need,” adding, “The fund will contribute to resolving penal inequality caused by income inequality, enabling all residents to enjoy happiness together.”
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.