Dunamu Recruits Third-Year Participants for 'Next Dream' Youth Credit Recovery Program

Dunamu, the operator of the virtual asset exchange Upbit, announced on August 26 that it is recruiting participants for the third year of "Dunamu Next Dream" (hereinafter referred to as Next Dream), a program aimed at helping young people struggling with debt to restore their credit.

Applications are open until September 19 through the official website of the Dunamu Next Series. Any young person aged 19 to 39 who is currently undergoing debt adjustment or has been approved for personal rehabilitation is eligible to apply.

Next Dream is part of the Dunamu Next Series, an ESG project promoted by Dunamu under the motto "Finance that Empowers Youth." The program is jointly operated with the Credit Recovery Committee and the Social Solidarity Bank (Together with the World), supporting young people in their 20s and 30s to overcome the burden of debt, recover their daily lives, and find hope for the future.

Recently, youth debt has been increasing daily, as the economic downturn has been compounded by a tough job market. According to data submitted to Assemblywoman Kim Hyunjung of the Democratic Party of Korea by the Korea Inclusive Finance Agency at the end of last year, the delinquency rate for small living expense loans (illegal private loan prevention loans) for low-credit, low-income individuals in their 20s was 36.2% in 2024, the highest among all age groups, while the rate for those in their 30s reached 32.4%. Youth debt is no longer just a personal issue; it has become a structural social challenge that requires collective action.

Next Dream analyzes the mechanisms behind youth debt and offers effective programs that go beyond short-term financial support to help young people achieve sustainable independence. By providing living expense support and interest-free loans, the program prevents applicants from abandoning debt adjustment due to unavoidable short-term cash shortages or falling into a vicious cycle of high-interest loans. Professional financial consultants guide participants in developing sound financial habits and asset management skills.

Applications are being accepted in two areas: financial consulting and living expense support, and interest-free living expense loan support. Participants in the financial consulting and living expense support category receive monthly debt management, financial planning, and implementation consulting for six months, along with a monthly living expense stipend of 200,000 won, totaling 1.2 million won.

For interest-free living expense loan support, participants can receive up to 2.5 million won over 24 months for urgent needs such as medical expenses, educational costs, or living expenses. If the loan is repaid in full and on time, 10% of the principal will be paid back as a cashback reward. Interest-free loan recipients may also receive additional financial consulting for future financial planning upon request.

Over the past two years, Next Dream has helped nearly 600 young people pursue new dreams. Among those who participated in the first year of the program in 2023, about 90% maintained their debt adjustment plans, and there was a significant reduction in both the number of delinquencies and the average monthly repayment amount, which decreased by approximately 1.6 million won.

In the second year of the program in 2024, participants saw a 4.1% decrease in private loan usage and an average reduction of 385,000 won in personal debt, demonstrating meaningful progress. For the third year of Next Dream, the program will expand eligibility to include young people who have completed debt adjustment (discharge) within the past two years, recognizing that a debt adjustment record can restrict access to financial services for a certain period. This will enable even more young people to move forward with hope for the future.

Oh Kyungseok, CEO of Dunamu, stated, "The dreams of young people are directly linked to the future vision of Korea," adding, "Dunamu will continue to provide unwavering support to ensure that young people can grow without giving in to despair, serving as a solid pillar for our society."

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