FSS Unveils 8 Outstanding Cases of Win-Win and Cooperative Financial New Products

Kakao Bank, KB Kookmin, Woori, Hana, etc.

On the 24th, the Financial Supervisory Service (FSS) announced the selection of eight outstanding products under the 'Win-Win and Cooperative Finance New Products' category.

The second contest, held until the 31st of last month, saw participation from various companies including internet-only banks, card companies, and electronic financial service providers. A total of 25 financial products were submitted.

The FSS selected financial products that support small business owners facing economic difficulties due to high interest rates or help address social issues such as aging and financial fraud that our society collectively faces.

From banks, KakaoBank's 'Personal Business Owner Guarantee Loan,' Woori Bank's '1% Principal Support for Low-Income Financial Diligent Repayment Customers,' KB Kookmin Bank's 'National Health Savings Golden Life,' and Hana Bank's 'Non-face-to-face Credit Loan Identity Theft Prevention Service' were selected.

In insurance, Hanwha Life's '2030 Lump Sum Savings Stepping Stone Insurance' and Samsung Life's 'Win-Win Finance Loan Safety Insurance' were chosen, while Woori Card's win-win finance program was selected in the card sector. Additionally, Naver Financial's fast settlement of online mall sales proceeds was recognized as an outstanding case.

The selected outstanding products will be posted on the FSS website for one year. The FSS plans to select and announce the third round of outstanding cases at the end of the year and will also conduct the FSS Governor's awards for the entire year. An FSS official stated, "We plan to operate steadily by continuously selecting and announcing financial products that provide practical help to financial consumers."

Financial Supervisory Service, Yeouido, Seoul. Photo by Jinhyung Kang aymsdream@

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