Dunamu Supports Youth Credit Recovery... Provides 3 Billion KRW from Luna Fees

Dunamu, the operator of the domestic virtual asset exchange Upbit, announced on the 19th that it will recruit candidates for the 'Dunamu Next Dream' support program until August 20 to help young people struggling with debt recover their credit.

Dunamu Next Dream is part of Dunamu's previously announced plan to return Luna trading fees. When announcing the Luna Classic fee revenue last September, Dunamu stated that approximately 6.6 billion KRW would be used for investor protection.

At that time, based on the opinions of an advisory committee composed of external experts, it was announced that about 3 billion KRW from Luna trading fees would be donated to public interest organizations and used for financial and credit recovery support. To this end, aiming to resolve the emerging social issue of youth debt, Dunamu signed a joint business agreement (MOU) with the Credit Recovery Committee and the Social Solidarity Bank in April and decided to promote the Dunamu Next Dream project.

Dunamu Next Dream consists of two parts: financial consulting and living expense support, and emergency living expense loans, designed to comprehensively alleviate the living burdens of young people undergoing debt adjustment and support their future and dreams. Recruitment for financial consulting and living expense support will begin first.

Financial consulting and living expense support is a program to help young people develop sound financial values. To break the vicious cycle of continuous debt accumulation and enable sustainable independent financial life, six sessions of personalized financial consulting will be provided by experts including members of the Credit Counseling Association and former financial industry professionals. After completing the financial consulting, young participants will receive a total of 1.2 million KRW per person in living expense support free of charge. This preemptive support aims to help young people struggling with debt maintain at least a minimum standard of living and prevent missed debt payments.

From the 19th of this month to the 20th of next month, a total of 150 participants will be recruited. Applicants must be young people aged between 19 and 39 whose debt adjustment has been confirmed and who reside in the metropolitan area.

Applications can be submitted through the official Dunamu Next Dream website. After signing up as a member, applicants must submit the application form along with required documents such as the debt adjustment confirmation certificate.

Participants will be reviewed and selected jointly by Dunamu, the Credit Recovery Committee, and the Social Solidarity Bank. The selection process will include a first round of document screening and a second round of interviews, comprehensively evaluating factors such as the will for independence and the possibility of sincere repayment. The selection of candidates is planned to be completed by September.

The other program, the emergency living expense loan project, is designed to provide interest-free loans of up to 2.5 million KRW per person for urgent short-term funds needed for housing costs, medical expenses, etc., during debt adjustment. Recruitment for this program is expected to begin in September.

Lee Seok-woo, CEO of Dunamu, said, "If the youth, who are the future leaders of society, cannot maintain stable economic activities, it could lead to a significant social burden. This project was prepared as a preventive measure against that." He added, "We ask for much support and interest so that young people suffering from multiple debts or difficulties in career choices can quickly establish themselves stably in our society."