Korea Asset Management Corporation (KAMCO) announced on July 18 that it will hold a series of on-site relay meetings for the Saechulbal Fund starting from July 22.
This is part of a series of topic-based relay meetings following the Financial Services Commission's meeting with small business owners the previous day. The purpose is to identify the difficulties faced by small business owners and self-employed individuals who have experienced delinquency or debt restructuring, or who are at risk of delinquency, in the process of debt adjustment.
On July 22, an on-site meeting will be held at KAMCO CS in Seo-gu, Daejeon, with more than 10 call center counselors from the Saechulbal Fund and the Credit Recovery Committee. Officials from the Financial Services Commission, KAMCO, and the Credit Recovery Committee will also attend.
The meeting aims to gather feedback and suggestions from those wishing to use the Saechulbal Fund by hearing directly from call center counselors, who are most familiar with the difficulties faced by people struggling with debt issues. The discussion will focus on identifying and addressing these issues, as well as discussing potential system improvements.
On July 25, a Saechulbal Fund Recovery Supporters meeting will be held at the Jeonbuk Regional Headquarters of the Small Enterprise and Market Service in Jeonju. This meeting will bring together small business owners and self-employed individuals who have participated in education programs for employment or business restart after debt restructuring.
On August 5, an open meeting will be held at KAMCO's headquarters in Busan, inviting 20 small business owners from the Busan area. Any small business owner or self-employed individual may participate in the meeting. Applications will be accepted from July 18 to July 30.
KAMCO will operate a "Saechulbal Fund Intensive Feedback Period" for one month, launch a policy proposal task force (TF) composed of counselors from the Saechulbal Fund and the Credit Recovery Committee, and seek additional system improvement suggestions through an online bulletin board on its website. Improvements collected through this process will be reviewed in consultation with relevant agencies and are scheduled to be implemented in September.
Jung Junghoon, President of KAMCO, stated, "Through these relay meetings, we will listen carefully to the voices of small business owners and the self-employed in the field, and spare no effort to provide support so that they can truly feel the effects of our policies."
As of the end of last month, the Saechulbal Fund had received debt restructuring applications from 136,915 small business owners and self-employed individuals, with a total debt amount of 22.0875 trillion won. Of these, 37,950 people signed contracts for purchase-type debt restructuring, with a total principal of 3.3988 trillion won, and the average principal reduction rate was about 70%. For brokerage-type debt restructuring, 41,619 people finalized debt amounts totaling 3.1073 trillion won, with the average interest rate reduction being approximately 4.8 percentage points.
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