Search results for Credit Recovery Committee
Finance
Kim Eun-kyoung says \'financial ladder loan\' to launch within 3 months
Kim Eun-kyoung, head of the Korea Inclusive Finance Agency, said a tentative \"financial ladder loan\" will be launched within three months. She said the agency will roll out a mid-interest-rate loan product involving the non-bank financial sector, while pursuing a consultative body with banks and holding parallel discussions with financial authorities. She stressed the need to bridge gaps between systems to improve access for lower-credit borrowers.
Finance
Financial sector to raise annual contributions to SMEF by 197.3 billion won; microloans to rise to 420 billion won
South Korea\'s Financial Services Commission said on Monday a revised enforcement decree for the law on supporting the financial lives of ordinary people was approved at a Cabinet meeting and took effect immediately. The revision raises the common contribution rates paid by financial firms to the Korea Inclusive Finance Agency. It is expected to increase annual funding by 197.3 billion won and lift total financial sector contributions to about 632.1 billion won. It also enables credit guarantees for certain microloan borrowers.
Finance
FSC launches one-stop support for struggling small merchants
South Korea\'s Financial Services Commission will work with the Ministry of SMEs and Startups and other agencies to provide proactive support for small merchants facing management difficulties. The FSC said it signed a memorandum of understanding in Seoul to offer pre-emptive and integrated assistance for small merchants and vulnerable groups. The programme will identify at-risk merchants and provide tailored policy information and counselling starting March 31.
