Kim Eun-kyoung (김은경), head of the Korea Inclusive Finance Agency, said on Monday at a briefing marking her 100th day in office that she will launch a tentative "financial ladder loan" within three months.

Kim said she will introduce a mid-interest-rate loan product involving the non-bank financial sector. She said the agency plans to pursue both the formation of a consultative body with banks and discussions with financial authorities in parallel.

She aims to improve access to banks for mid-to-low credit borrowers by adding the agency's policy ideas to the Financial Services Commission's "credit build-up" framework.

Kim said that even if vulnerable borrowers faithfully repay their loans, they currently cannot immediately use products offered by primary banks. She stressed the need to eliminate gaps between systems.

She also said that over the past three months, there has been only 1 case in which a beneficiary of Smiling Microfinance proceeded to a Stepping Stone Loan, referring to strengthening the "stepping stone" role.

Kim said the financial sector also bears responsibility for pushing financially vulnerable groups into blind spots, and requested cooperation on funding. She also reaffirmed her intent to pursue integration between the agency and the Credit Recovery Committee.