'Complex Support 2.0' Expands Private Financial Company Participation and Support Areas... Task Force Meeting Held

Meeting chaired by Kim Byunghwan, Financial Services Commission Chairman... Announcement of 4 Major Improvement Plans
Establishment of an Integrated IT System between Seogeum Center and Korea Housing Finance Corporation
Early Implementation of Tasks Related to Illegal Private Loans

The Complex Support Promotion Team, consisting of related agencies such as the Financial Services Commission and the Ministry of Employment and Labor, announced that it will implement four major improvement measures, including expanding complex support guidance through private financial companies and linking the Korea Workers' Compensation and Welfare Service's vocational training living expense loan project.

Kim Byung-hwan, Chairman of the Financial Services Commission, is arriving at the Government Seoul Office in Jongno-gu, Seoul on the 12th. Photo by Jo Yong-jun

On the 18th, the Complex Support Promotion Team held its third meeting chaired by Financial Services Commission Chairman Kim Byung-hwan to review the achievements of the past year and announced an advanced plan as part of 'Complex Support 2.0.' Officials from the Ministry of Employment and Labor, Ministry of Health and Welfare, Financial Supervisory Service, Korea Inclusive Finance Agency, and Credit Counseling & Recovery Service attended the meeting.

The Promotion Team first enabled complex support, which was previously only accessible through public institutions, to be guided through private financial companies as well. Not only banks but also savings banks, specialized credit finance companies, and loan comparison platforms?frequently used by the primary target groups of complex support, such as low-income and vulnerable populations?will participate.

The scope of complex support will also be expanded. In the employment sector, the Korea Workers' Compensation and Welfare Service's vocational training living expense loan project (1% interest rate, up to 10 million KRW) will be additionally linked. Counselors who meet the support requirements will be able to access the Korea Workers' Compensation and Welfare Service's low-interest loan services through the Korea Inclusive Finance Center.

In the housing sector, a computerized linkage system between the Korea Inclusive Finance Center and the Korea Housing Finance Corporation will be established. This will eliminate the inconvenience of low-income finance faithful payers having to manually submit supporting documents when applying for special jeonse (key money deposit) loan guarantees. Furthermore, starting with the Korea Artists Welfare Foundation, cooperation between institutions will be strengthened so that support projects provided by various professional organizations can also be guided through the Korea Inclusive Finance Center.

The availability of complex support will be more accurately guided based on objective data. Currently, complex support counseling is conducted based on subjective statements, making it difficult for counselors to judge and guide the services that can be provided to the counselees. Therefore, from the end of 2025, various customer information identified through public MyData will be utilized in complex support counseling, enabling faster and more accurate counseling and service provision.

Additionally, to facilitate smooth counseling on-site, the Korea Inclusive Finance Agency and Credit Counseling & Recovery Service will increase their counseling staff. Morale will be boosted through awards for excellence in complex support work, and a new training course for complex support experts will be established to enhance counselors' expertise.

In addition to the four major improvement measures, the Promotion Team will expedite tasks related to illegal private financing announced in June. The computerized system between the Korea Inclusive Finance Center and the Financial Supervisory Service for illegal private financing will be linked without delay by the fourth quarter of next year. Moreover, even before the computerized linkage, guidance on the Financial Supervisory Service's reporting procedures will be strengthened for customers visiting the Korea Inclusive Finance Center, and cooperation among related agencies will be enhanced by expanding the Financial Supervisory Service's organization related to illegal private financing.

Chairman Kim Byung-hwan said, "The core of complex support is to enable users to access various scattered services in a one-stop manner regardless of which institution they visit," and urged, "Please actively cooperate among institutions so that the newly promoted complex support tasks can be successfully established on the ground."

Son Pil-hoon, Director of Employment Service Policy at the Ministry of Employment and Labor, stated, "The results of inter-ministerial cooperation are appearing through successful employment cases by resolving complex difficulties," and added, "We will continue to work together so that many citizens can achieve economic independence through jobs."

Meanwhile, since January, the Financial Services Commission and related ministries have reorganized and linked financial, employment, and welfare support policies scattered across ministries and agencies from the demanders' perspective, providing complex support services to about 72,000 people within one year of implementation. According to a survey, 81.2% of service users were satisfied, and among them, 91.0% expressed their intention to reuse the service.