Suhyup Launches 'Online Haetsalron' Providing Loan Disbursement on Application Day

Jinho Moon, Deputy Head of Financial Support at the National Federation of Fisheries Cooperatives (left), and Inho Choi, Deputy Director of the Korea Inclusive Finance Agency

The National Federation of Fisheries Cooperatives (Suhyup) launched the 'Online Worker Sunshine Loan' non-face-to-face product on the 17th.

Until now, the Worker Sunshine Loan was only available through branch offices, but with this launch, loan disbursement on the same day is possible via a smartphone app without visiting a branch. Additionally, a preferential interest rate benefit of up to 1.5% is granted compared to applying at a branch counter. This is a follow-up measure after signing a 'Business Agreement to Strengthen Support for Low-Income Finance' with the Korea Inclusive Finance Agency on the 13th.

This product targets workers with an annual income of 35 million KRW or less, or those with an annual income of 45 million KRW or less and a personal credit score in the bottom 20%. The loan limit is temporarily set at 20 million KRW until the end of this year. After that, it will be up to 15 million KRW, and the loan period can be chosen between 3 or 5 years.

A Suhyup official stated, "We will actively strive to strengthen continuous cooperation with the Korea Inclusive Finance Agency and expand support for low-income finance to fulfill our social responsibility as an organization representing the fisheries sector."

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