Financial Services Commission Raises This Year's Policy Microfinance Supply Plan to 9.6 Trillion Won

First Half Usage Performance 4.7 Trillion Won

[Asia Economy Reporter Kim Jin-ho] The Financial Services Commission announced on the 4th that it will raise the policy microfinance supply plan to 9.6 trillion won this year to improve financial access for low-credit and low-income individuals.

First, the supply scale of the Worker’s Hae-sal Loan for financial support to low-credit and low-income individuals will be increased by 1 trillion won, from 2.4 trillion won to 3.4 trillion won. In addition, the supply of Hae-sal Loan Youth for low-income youth will also be expanded by 100 billion won, from 233 billion won to 333 billion won.

Furthermore, 300 billion won each will be newly supplied for the Safety Net Loan II, which is for refinancing existing high-interest loans (over 20%), and the new policy microfinance product in the banking sector, Hae-sal Loan Bank. The Hae-sal Loan Card, a product in the credit finance sector, is also planned to be additionally supplied by 50 billion won.

Meanwhile, the usage performance of policy microfinance products in the first half of this year was recorded at a total of 410,000 people and 4.6823 trillion won. Compared to the same period last year, the number of supported individuals increased by 22,252, and the supply amount increased by 467.7 billion won. In particular, the 'Worker’s Hae-sal Loan (476.6 billion won)' and 'Hae-sal Loan Youth (74.4 billion won)' for low-credit and low-income workers increased significantly.