Search results for Debt relief
Finance
KB Kookmin Bank expands \'KB Hope Finance Center\' nationwide to support vulnerable groups
KB Kookmin Bank said it has expanded its \'KB Hope Finance Center\' from Seoul and Incheon to major hubs nationwide, including Daegu, Daejeon and Busan. The centres support vulnerable customers by providing debt adjustment and credit counselling services. The bank said the centres also guide customers on debt relief systems and policy finance products, including options to switch from high-interest loans. It also introduced an AI agent to strengthen counselling support.
Finance
Korean stocks see record volatility on Middle East risks; AI race accelerates
South Korean stocks are seeing sharp swings as Middle East geopolitical risks broaden, raising the prospect of a prolonged war and pushing up oil prices and uncertainty in global markets. Extreme intraday moves have repeatedly triggered buying and selling sidecars. Financial groups and banks are reshaping governance ahead of annual meetings and stepping up efforts to expand women’s leadership. The industry is also accelerating AI-driven digital transformation across banking, payments and financial content.
Finance
KB Kookmin Bank to write off 278.5 billion won in debt for financially vulnerable borrowers
KB Kookmin Bank said on Tuesday it will provide special debt relief worth 278.5 billion won for 12,433 financially vulnerable borrowers. The plan combines reductions in principal for short- and mid-term delinquent claims with the cancellation of long-term delinquent debt. Eligible borrowers include socially vulnerable groups with loans in arrears for more than 5 years and principal of 50 million won or less, and those subject to debt adjustment under the Personal Debtor Protection Act.
