Search results for special claims
Finance
Hana Bank writes off 134.3 billion won in long-overdue debt, easing burden for 5,738 people
Hana Bank wrote off 134.3 billion won worth of long-overdue debt to support credit recovery and economic restart for financially vulnerable groups. The bank said on Oct. 8 the write-off covered long-overdue claims, including those more than five years after being classified as special claims. The measure applied to 5,738 people and 9,215 accounts, eliminating the entire debt burden including principal and interest.
Finance
KB Kookmin Bank to cut special loan principal by up to 90 percent for vulnerable groups
KB Kookmin Bank will introduce a special debt relief programme to ease the debt burden of socially disadvantaged borrowers, including basic livelihood recipients and near-poor households. Starting July 13, the bank will reduce the principal of special claims by up to 90 percent to support credit recovery and a return to economic activity. Eligible groups include people with severe disabilities and others. The bank also simplified screening procedures.
Finance
Woori Financial steps up support for youth, middle-to-low credit borrowers with inclusive finance platform launch
Woori Financial Group is expanding financial support for young people and middle-to-low credit borrowers by increasing the supply of policy loans and rolling out new products. It reviewed inclusive finance results and future tasks at a May meeting in Seoul. Woori Bank supplied 218.6 billion won in Saehopeum Holssi loans in the first quarter and provided interest relief and waivers. The group plans to launch a loan-switching product and an inclusive finance platform, while widening regional microfinance support.
