KB Kookmin Hope Loan Launched for Vulnerable Borrowers... 500 Billion KRW Scale

[Asia Economy Reporter Bu Aeri] KB Kookmin Bank announced on the 1st that it will launch the KB Kookmin Hope Loan worth 500 billion KRW.

The KB Kookmin Hope Loan is a practical support program for vulnerable borrowers and is part of the household loan soft landing support program implemented last month.

Through this loan, customers using loans from secondary financial institutions will be able to refinance with relatively lower interest rate loans from banks, reducing interest cost burdens and improving the quality of loans, the bank stated.

KB Kookmin Bank plans to relax loan criteria such as employment period and income requirements, and through its internally developed evaluation model, allow low-credit vulnerable borrowers, including multiple debtors who generally find it difficult to obtain bank loans, to use the loan.

The KB Kookmin Hope Loan will also be available to customers with accounts at other banks and is scheduled to be launched in March when the related IT system is established.