Financial, Welfare, and Employment Multi-Support Recipients Increase by 71%... Improvement in Financial Conditions

Financial Services Commission Holds On-site Meeting of the Integrated Support Promotion Team

Kim Byung-hwan, Chairman of the Financial Services Commission (center), announced measures to enhance substance at the 4th Complex Support Task Force meeting held with related organizations on the morning of the 13th at the Seoul Jung-gu Community Financial Promotion Agency, and held a meeting with complex support counseling staff. Photo by Financial Services Commission.

Since the government established a financial, employment, and welfare linkage system last year, the number of people receiving integrated support linking finance with employment or welfare increased by 71.2% compared to the previous year.

On the 13th, the Financial Services Commission held the 4th meeting of the Integrated Support Promotion Team and an on-site consultation staff meeting at the Seoul Jung-gu Community Finance Promotion Agency, attended by related organizations including the Ministry of Employment and Labor, Busan and Gwangju metropolitan cities, and the Credit Recovery Committee. They shared achievements and unveiled plans to strengthen the capabilities of consultation staff to enhance the quality of integrated support operations on the ground.

In his opening remarks, Kim Byung-hwan, Chairman of the Financial Services Commission, stated, "Integrated support that links and provides financial, employment, and welfare services in a one-stop manner was delivered to 78,000 people last year," adding, "We plan to support consultation staff in various ways to provide more substantial integrated support."

Since the government established the financial, employment, and welfare linkage system last year, 78,000 people received integrated support linking finance with employment or welfare, an increase of 32,606 people (71.2%) compared to the previous year. Those who received integrated support showed improved financial conditions, such as a faster decline in high-interest loan balances compared to those who only received financial support.

Starting from the second quarter, financial authorities will launch a "visiting integrated support project," where staff from 50 Community Finance Integrated Support Centers nationwide will visit Busan or Gwangju to provide financial consultations. Intensive on-site training will also be conducted to explain financial systems to welfare consultation staff. To help employment and welfare consultation staff easily understand and effectively explain financial linkage procedures, a linkage manual will be distributed, and customized consultations using public MyData will be introduced ahead of schedule in July.

Chairman Kim requested, "Related organizations should actively cooperate to ensure that integrated support is provided effectively on the ground." Son Pil-hoon, Director of Employment Service Policy at the Ministry of Employment and Labor, said, "We will work as one team to provide seamless integrated support from the public’s perspective." Lee Jae-yeon, President of the Community Finance Promotion Agency and the Credit Recovery Committee, stated, "We will strengthen education and support so that consultation staff can faithfully perform integrated support tasks on-site."