KAMCO Donates 40 Million Won for 'Debt Adjustment Campaign Season 2'

[Asia Economy Reporter Park Sun-mi] Korea Asset Management Corporation (KAMCO) announced on the 23rd that it has donated 40 million KRW to the Green Umbrella Children’s Foundation Busan Regional Headquarters to support the renovation of old houses for financially vulnerable groups through the ‘Debt Adjustment Campaign Season 2’.

This campaign, held for the second time following last year, was established to support the credit recovery of financially vulnerable debtors with a strong willingness to repay debts by renovating old houses with issues such as collapse risks, and to improve quality of life through better living environments.

The campaign accepted applications for two months starting June 15 from new debt adjustment contract holders and early repayment completers among KAMCO debtors, and after reviewing applicants’ economic situations, 10 final recipients were selected from 681 applicants.

This year, the support scope was expanded to include safety facilities such as security windows and heating, in addition to house renovations. Reflecting feedback from last year’s Season 1 beneficiaries, the support amount per household was increased from 3 million KRW to 4 million KRW, and improvements were made to allow overlapping support within the budget range.

KAMCO plans to complete the house renovation projects by the end of November after consultations with each household in September to ensure the supported families can have a warm winter.