Yangsan City Launches Second "Gyeongnam Companion Loan" Product for Financially Vulnerable Groups

Direct Loan by Korea Inclusive Finance Agency Begins August 27
One-Year Lump-Sum Repayment at 9.9% Annual Interest
Up to 1 Million Won Loan Limit Provided

Yangsan City in South Gyeongsang Province will launch the second product of the "Gyeongnam Companion Loan," an emergency living expense loan for residents in financial blind spots, in line with the province's policy, on August 27, 2025.

This initiative is expected to significantly enhance financial stability for citizens by providing financial support opportunities even to those with a history of delinquency or who have difficulty proving their income.

While the original "Gyeongnam Companion Loan" was offered as a bank-guaranteed loan, this second product has been converted to a direct loan through the Korea Inclusive Finance Agency, dramatically expanding the range of support. As a result, financially vulnerable groups who previously struggled to access loans will now be able to receive institutional financial support without being exposed to the risks of illegal private lending.

The guarantee loan version of the "Gyeongnam Companion Loan," launched at the end of June, has already seen 2,212 applications, with 654 recipients receiving a total of 9.78 billion won, making a significant contribution to the stabilization of livelihoods for ordinary citizens.

In particular, Yangsan City, following Changwon and Gimhae, has become the third city in the province to provide loan benefits to 74 citizens, totaling 110 million won, demonstrating high local interest and delivering tangible assistance.

Applications can be submitted non-face-to-face through the "Seomin Geumyung Itta" mobile app, or in person at one of the 50 Inclusive Finance Centers nationwide (including Changwon and Jinju in South Gyeongsang). Advance reservations via the Inclusive Finance Call Center are required for smooth consultation.

A city official stated, "We are very pleased to be able to provide stable financial opportunities with the launch of the second Gyeongnam Companion Loan product," adding, "As Yangsan City achieved strong results with the first product, we will continue to actively promote and support the program so that citizens can experience real benefits."

South Gyeongsang Province plans to conduct a satisfaction survey of "Gyeongnam Companion Loan" users in September and actively reflect the results in future program operations.