Seogeumwon Conducts 'Credit and Debt Management Consulting Pilot Project'

Consulting Provided for Applicants Among Users of Policy-Based Microfinance Products

[Asia Economy Reporter Kim Min-young] The Korea Inclusive Finance Agency will pilot the 'Credit and Debt Management Consulting Service' starting from the 17th to support users of policy-based inclusive finance in achieving rapid economic recovery through sound credit management.

The credit and debt management consulting service is available to those who have used policy inclusive finance products such as Microfinance, Sunshine Loan, and Change Dream Loan for over one year and have been faithfully repaying without delinquency. It is planned to be conducted for 10,000 people over the next six months.

Applicants for the consulting service will receive monthly one-on-one telephone consultations with consultants appointed by the Korea Inclusive Finance Agency for six months, during which reasons for credit changes will be identified and customized credit improvement plans and necessary information for credit and financial management will be provided.

Additionally, applicants who diligently receive consulting and improve their credit, and who currently have loans from savings banks or private lenders, will be offered practical alternatives*.

Furthermore, Jeonbuk Bank has pledged to support credit improvement and debt management for low-income and vulnerable groups by donating 100 million KRW to the Korea Inclusive Finance Agency to ensure the successful implementation of the credit and debt management consulting pilot project.

The Korea Inclusive Finance Agency plans to use the donation to provide consulting for credit management of applicants and contribute to job creation by nurturing credit and debt management consultants, thereby returning the expertise of retired financial institution employees and the elderly to society.

Director Lee Gye-moon stated, "It is unfortunate that many low-income people who have the will to take full responsibility for their debts and improve their credit face difficulties due to lack of information and experience. Through credit and debt management consulting, we will eliminate information asymmetry in financial information and provide customized support so that low-income people can quickly settle into the formal financial sector and take a step closer to economic recovery."

Applications for credit and debt management consulting can be submitted until the 30th. Application methods and guidance are available through the Inclusive Finance Call Center (dial 1397 without area code) or the Korea Inclusive Finance Agency's customized loan website.

This content was produced with the assistance of AI translation services.