Kim Juhyun: "Small Livelihood Loan, Additional Funding Negotiable if Needed"

<기사제목>Financial Services Commission Chairman Visits Site for Small Livelihood Loans

On the 27th, Kim Juhyun, Chairman of the Financial Services Commission, stated regarding the small livelihood loan project, "If necessary, we will also consult with related agencies about additional funding."

On the first day of the small livelihood loan launch, Kim visited the Seomin Financial Integrated Support Center in Yangcheon-gu, Seoul, and said, "Since this is a newly implemented system, we will closely monitor its operation and promptly prepare necessary improvements."

Chairman Kim first explained about the project, "It is significant to provide opportunities for those in difficulty to use small livelihood loans offered by the public sector, rather than being pushed into illegal private loans with annual interest rates of several hundred percent."

The small livelihood loan project conducted by the Financial Services Commission targets individuals with credit scores in the bottom 20% or lower (KCB 700 points, NICE 744 points) and an annual income of 35 million KRW or less, offering loans up to 1 million KRW. As of 2 p.m. on the 24th, about 98% of the reservation slots had been filled, showing strong response.

Chairman Kim emphasized, "No matter how good a system is, it is meaningless if it does not function properly on the ground. Now, the role of the counseling staff at the Korea Inclusive Finance Agency is crucial," adding, "For applicants of the small livelihood loan, it is most important that comprehensive counseling on not only loans but also debt adjustment, welfare programs, and job linkage is properly conducted, so thorough counseling must be ensured."

Regarding the heavy demand for counseling, Kim said, "We are currently mobilizing all available resources, but since many people are waiting for loans, we are reviewing additional measures to facilitate smoother counseling," and added, "We will continue to make efforts to provide practical help to those in need."