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Finance

Talks gather pace on law to institutionalise basic financial rights

Discussions are gaining pace in South Korea on enacting a Basic Financial Security Act to guarantee financial access for low-income and low-credit groups. A policy forum in parliament reviewed legal and policy tasks, outcomes of existing programmes, overseas systems and potential economic and social effects. Proposals call for expanding policy-based finance beyond funding to link counselling, debt adjustment, recovery, self-reliance and asset building through a one-stop support system.

Finance

Woori Bank backs micro business owners with Seomin Finance agency in \'Recognized Store\' project

Woori Bank will work with the Korea Inclusive Finance Agency to support 18 micro business owners with promotion, consulting and mentoring. The bank said it held the first plaque ceremony for the “Recognized Store” project on Sept. 7 at Yeonhwa Table in Seoul’s Mapo district, together with the agency and the Good Influence Store association. Selected owners will receive official plaques and stickers, marketing support and publicity via social media and the media.

People

Lee Ho-seong, Hana Bank chief, joins illegal private lending prevention campaign, nominates Lee Hwan-ju

Lee Ho-seong (이호성), head of Hana Bank, joined a relay campaign aimed at preventing 피해 from illegal private lending and protecting financially vulnerable groups. Hana Bank said on Tuesday the campaign is hosted by the Korea Inclusive Finance Agency. Participants post 인증 photos on official social media channels and nominate the next participant. Lee joined after being nominated by IBK Industrial Bank of Korea CEO Jang Min-young and nominated KB Kookmin Bank chief Lee Hwan-ju next.