Shinhyup Supports Financial Products for 360,000 Multicultural Families... Worth 130 Billion Won

After signing the "Business Agreement for the Stability of Multicultural Families' Lives and Support for Financial Services" between the Credit Union and the Embassy of Cambodia in Korea, Kim Yoon-sik, President of the National Credit Union Federation, and Chhirun Botomlangsey, Cambodian Ambassador to Korea, are posing for a photo. Photo by National Credit Union Federation

[Asia Economy Reporter Buaeri] The National Credit Union Federation of Korea (NACUFOK) announced on the 5th that it has signed a Memorandum of Understanding (MOU) with the Embassy of Cambodia in Korea to strengthen financial services for multicultural families.

NACUFOK plans to provide financial services for 360,000 multicultural families in Korea and cooperate to improve the living environment of the Cambodian community in Korea. The Cambodian ambassador signed the agreement on behalf of 10 Southeast Asian countries.

NACUFOK's multicultural support product is a socially contributive financial product sold to multicultural households with one or more children, supplying approximately 20,000 households with a total of 130 billion KRW.

Through this product, NACUFOK supports the self-reliance of multicultural families facing various challenges such as language and cultural differences and economic difficulties.

Kim Yunsik, Chairman of NACUFOK, stated, "We hope this MOU will help stabilize the lives and improve the welfare of multicultural families," adding, "NACUFOK will continue to carry out various social contribution activities for marginalized neighbors in the community."

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