Financial Services Commission Chairman: "Eradicate Illegal Debt Collection for Youth and Vulnerable Groups"

Visit to the Seoul Financial Welfare Counseling Center Youth Companion Center and the Korea Legal Aid Corporation Personal Rehabilitation and Bankruptcy Support Center on the 7th

Financial Services Commission Chairman Kim Joo-hyun is visiting the Seoul Financial Welfare Center Youth Companion Center in Gangnam-gu, Seoul on the 7th. Photo by Jinhyung Kang aymsdream@

Kim Juhyun, Chairman of the Financial Services Commission, stated, "We will ensure that essential financial support is timely provided to low-income and vulnerable groups and respond to eradicate illegal activities such as unlawful debt collection."

On the 7th, Chairman Kim visited the Seoul Financial Welfare Counseling Center Youth Companion Center and the Korea Legal Aid Corporation Personal Rehabilitation and Bankruptcy Support Center.

Chairman Kim said, "The illegal use of finance and debt crisis issues among youth and vulnerable groups are very serious, so it is crucial to strengthen financial education support and policy-based low-income financial supply targeting youth and adolescents."

He added, "Damage caused by malicious illegal debt collection has increased to the extent that sometimes counseling staff and lawyers are exposed to verbal abuse and insults."

Chairman Kim stated, "We agree on the importance of financial education and asset formation for youth and adolescents, and we will promote the continuous operation of programs such as the Youth Leap Account, as well as actively support financial education for young people and job fairs in the financial sector."

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