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Finance

South Korea weighs undercover operations against illegal private lending, rewards tip-offs on online ads

South Korea plans to require pre-screening for all online loan advertisements and introduce rewards for reporting illegal private-lending ads, including those linked to illegal lenders. The government will also consider allowing undercover investigations into illegal private-lending crimes and a reporting encouragement period with special voluntary confession conditions. It also plans to check platform measures to remove and block illegal ads, and speed up victim support by deploying police staff to the Credit Recovery Committee.

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KB Kookmin Bank chief Lee Hwan-ju joins \'life-saving finance relay campaign\'

KB Kookmin Bank CEO Lee Hwan-ju (이환주) has joined the \'life-saving finance relay campaign\' aimed at preventing 피해 from illegal private lending and protecting financially vulnerable groups. KB Kookmin Bank said Lee participated after being nominated by Hana Bank CEO Lee Ho-sung and named KB Life Insurance CEO Jung Moon-chul as the next participant. The campaign was launched in July by the Korea Inclusive Finance Agency to raise awareness and social 관심.

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Nam Gi-cheon joins \'Life-saving Finance\' campaign

Nam Gi-cheon (남기천), CEO of Won Investment Securities, joined the \'Life-saving Finance\' campaign aimed at preventing harm from illegal private lending and protecting financially vulnerable groups. Won Investment Securities said Nam took part after being nominated by Jin Sung-won (진성원), CEO of Woori Card, and joined the campaign with Hana Card CEO Sung Young-soo (성영수). The campaign began in July under the Korea Inclusive Finance Agency.