KAMCO Simplifies Debt Adjustment Application for 'Public MyData Service'

Enhancing Customer Convenience with One-Click Submission of Required Documents... Strengthening Personal Information Protection

KAMCO (Korea Asset Management Corporation) announced on the 31st that it will significantly simplify the application procedures for debt adjustment with KAMCO and the New Start Fund by introducing a linkage system with the Ministry of the Interior and Safety’s ‘Public MyData Service.’

The Public MyData Service is a public service that supports the transmission of personal information held by the government, local governments, and public institutions to desired locations by utilizing the data subject’s right to request provision of information.

Before the system linkage, debtors had to individually obtain various necessary documents such as resident registration certificates and income amount certificates from each institution and submit them to KAMCO in order to apply for debt adjustment on KAMCO’s non-performing loans and New Start Fund acquired claims, which was inconvenient.

However, by applying Public MyData to OnCredit, KAMCO’s personal credit support portal, and the New Start Fund, a total of 32 types of documents required for debt adjustment applications, including basic livelihood security recipient certificates and business registration certificates, can now be conveniently submitted with one click.

This will eliminate the inconvenience and hassle in the debt adjustment application process, enhance customer convenience, and by electronically transmitting and managing administrative information through the system instead of paper documents, it is expected to prevent risks of personal information leakage and loss.

Kwon Nam-ju, President of KAMCO, said, “We expect that the quality of KAMCO’s public services will be further enhanced through the utilization of Public MyData.” He added, “We will continue to expand the scope of Public MyData linkage targets and services to strengthen the data sovereignty of the people and improve work efficiency.”