Segeumwon Expands Target Audience for Credit and Debt Management Consulting

[Asia Economy Reporter Song Seung-seop] The Korea Inclusive Finance Agency announced on the 19th that it will expand the target audience for credit and debt management consulting and diversify its services.

According to the agency, the support condition for credit and debt management consulting, which required “one year after using policy inclusive finance,” has been relaxed to “six months after.” Since the Korea Development Institute (KDI) analyzed that the effects of using policy inclusive finance decline after six months, the agency explained that it expanded the consulting service targets to help users of policy inclusive finance return quickly to the formal financial market.

Once selected as a consulting target, information necessary for credit improvement is provided monthly for three months, and consulting is conducted regarding reasons for credit changes and improvement plans. Support for fund linkage with partner banks is also provided.

Since September last year, the agency has been conducting a pilot project of monthly telephone consultations for credit and debt management for 3,382 people who have used policy inclusive finance for over one year for six months. As of January, 52% of the consulting targets saw their credit scores increase by an average of 42.8 points.

Through the pilot project, the service was provided as monthly telephone consultations for credit and debt management to 3,382 people who had used policy inclusive finance for over one year. Analyzing the credit scores of the targets three months after consulting as of January, it was announced that 52% of the total saw their credit scores increase by an average of 42.8 points, with a maximum increase of 404 points.

The methods of use will also be diversified. Considering customers who find telephone consultations difficult or inconvenient, consultations will be conducted using KakaoTalk chat, or support will be provided by offering credit and debt management reports through an application (app).

Lee Gye-moon, president of the Korea Inclusive Finance Agency, emphasized, “We plan to actively implement credit and debt management consulting so that those who are struggling due to lack of information on credit, debt management, and financial products because of their busy lives can quickly return to the formal financial system.”

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