South Korea\'s Financial Services Commission\'s mid-rate livelihood stability loan, introduced to support living expenses for mid- and low-credit borrowers, is spreading mainly among non-bank lenders. The product was first launched by six savings banks and has since been rolled out by additional savings banks and capital firms. Major commercial banks have not launched it separately and say plans remain undecided, though they have introduced their own mid-rate and inclusive finance products. Regulators are expanding household-loan volume management incentives for mid-rate lending, which could boost supply.

Hana Financial Group said on Tuesday it will strengthen its inclusive finance execution framework by appointing Vice Chairman Lee Seung-yeol (이승열) as chief inclusive finance officer. The group said it executed more than 60 percent of its 3.1 trillion won annual inclusive finance target in the first half and will step up efforts in the second half. Plans cover youth and small business support, debtor protection and financial crime prevention, and expansion of social solidarity finance.