"Inclusive Finance Expansion in Earnest"... BNK Financial Group to Strengthen Youth Settlement Support and Recovery for Vulnerable Groups

Inclusive Finance of 1 Trillion Won Annually
Responding to Youth Outflow, Expanding Debt Adjustment
Revitalizing the Regional Economy

BNK Financial Group (Chairman Bin Daein) has announced a plan to provide 1 trillion won annually in inclusive finance and is now moving forward in earnest to expand inclusive finance, focusing on two main pillars: addressing the outflow of young people from the region and supporting the rapid recovery and restart of financially vulnerable groups.

BNK recognizes the increasingly severe outflow of young people from the region as a structural social issue and is actively responding to it.

On November 27, BNK signed an agreement with the Gyeongnam Talent Lifelong Education Promotion Agency to support the "Youth U-Turn and Settlement Support" initiative, laying the foundation for improving local settlement conditions. At the same time, BNK is pursuing a "two-track strategy" aimed at both preventing the outflow of local youth and attracting young people from the Seoul metropolitan area to move into the region, thereby enhancing policy synergy.

In particular, BNK will introduce a new product that allows customers to directly choose their interest rates, applying this innovative structure to drive qualitative change in inclusive finance. The support targets will be operated separately for young people residing in the region and those moving into the region.

First, BNK will offer a "customer-selected interest rate loan product" to reduce the outflow of young local workers and help them build assets. This product allows borrowers to choose the repayment structure according to their life stage (settling, growing, or stabilizing), which is expected to strengthen consumer rights and increase the utility of financial products.

Additionally, for young people from the Seoul metropolitan area who find employment in the region, BNK will provide low-interest loans in collaboration with external organizations to support their settlement. By offering a three-year fixed interest rate and waiving prepayment penalties, BNK aims to reduce the financial burden and ensure a flexible repayment environment, thereby supporting the swift settlement of young people in the region.

BNK will also significantly expand its debt adjustment programs to facilitate the rapid recovery of financially vulnerable groups. By writing off time-barred claims to support credit recovery and increasing the debt adjustment ratio for delinquent borrowers to up to 80 percent, BNK will help vulnerable groups return to normal economic activity.

A BNK Financial Group representative stated, "Through BNK’s unique inclusive finance, we will help young workers find the Busan-Ulsan-Gyeongnam region attractive and encourage them to settle here," adding, "We will also actively support the return of financially vulnerable groups to economic activity, doing our utmost to create new growth engines for the region."

Beyond inclusive finance, BNK is strengthening coexistence with the local community through a variety of social contribution activities. These include supporting the public laundry service "Dongbaek Workplace Cleaning" for industrial complex workers, providing financial support for industrial accident prevention consulting and facility improvement, running youth company exploration work experience programs, and sponsoring job creation projects for the elderly, all aimed at improving working environments.

BNK also continues regular social contribution activities such as operating the "I Sarang Culture Sarang DAY" cultural experience program for children from vulnerable groups and supporting welfare centers and foreign worker support centers. In addition, the group operates a volunteer corps for disaster recovery support and industrial safety enhancement, providing practical, on-site assistance in disaster situations such as fires and floods.

A BNK representative emphasized, "We will expand inclusive finance beyond simple financial support to encompass the recovery of lives and the strengthening of warm solidarity within the local community," adding, "We will fulfill our responsibility as a financial partner working alongside the local community."

BNK Financial Group.