Visit to 'Anyang Jungang Market' in Anyang-si, Gyeonggi-do... Held a Meeting
System Improvements Including Allowing Credit Union Financial Products for 'New Start Fund' Diligent Repayers
Emphasized "No Cases Should Be Left Out Due to Lack of System Awareness"
Financial Services Commission Chairman Kim Byung-hwan visited Anyang Central Market to review the operation status of the Saechulbal Fund and the achievements following system improvements, while also checking additional necessary enhancements such as strengthening support for new funds for 'diligent repayers.' Chairman Kim instructed to reinforce promotional activities, including operating an 'intensive promotion period' within the year to ensure no one is excluded from debt adjustment due to lack of awareness of the Saechulbal Fund system.
According to the FSC on the 22nd, Chairman Kim visited Anyang Central Market located in Manan-gu, Anyang-si, Gyeonggi-do, and conducted promotional activities for the Saechulbal Fund together with officials and employees of related organizations. Afterwards, through a meeting involving Saechulbal Fund users and the market merchants' association president, opinions were exchanged regarding the difficulties faced by small business owners and self-employed individuals, as well as their experiences using the Saechulbal Fund.
In his opening remarks at the meeting, Chairman Kim said, "On August 1st, we held a Saechulbal Fund meeting to meet with small business owners and self-employed individuals, and we advanced the implementation of system improvements originally scheduled for the end of September to September 12th for early enforcement." He added, "Since the system improvements, the number of applicants has increased by 26% compared to before." The FSC has improved the system by expanding the support period and target groups, offering principal reduction benefits upon completion of re-startup education, expanding affiliated institutions, and rationalizing debt adjustment criteria for new loans within six months.
The president of the Anyang Central Market Merchants' Association, who attended the meeting, said, "I was aware of the Saechulbal Fund system through media reports, but it felt somewhat complicated," and added, "There is a need for intuitive and easy-to-understand promotion, and I hope offline promotions in cooperation with merchants' associations will be expanded." In response, Chairman Kim said, "Based on the opinions heard, I will carefully ensure that users do not experience inconvenience during the operation process and that the scheduled system improvements are implemented smoothly."
Furthermore, Chairman Kim mentioned the need for system improvements regarding issues raised during the National Assembly audit and civil complaints and instructed active review. The FSC plans to revise the support requirements for policy financial products for diligent repayers to include 'Saechulbal Fund' diligent repayers as eligible users. Additionally, it will consider expanding the linked educational programs recognized as preferential conditions for principal reduction for defaulters and closed businesses to include Polytech vocational training and regional credit guarantee corporation re-start education. The FSC will also continue to encourage participation from financial companies not affiliated with the agreement, where debt adjustment does not apply.
He stated, "To ensure that no one is excluded from the benefits of debt adjustment due to lack of awareness of the system, and so that anyone facing difficulties can feel that the state supports them, we will operate an intensive promotion period for the Saechulbal Fund within this year." He added, "During the remaining two years of operation, we will maintain vigilance and continue to deliberate so that the Saechulbal Fund can truly become a partner in the new start journey of small business owners and self-employed individuals."
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