One-stop microfinance platform to be introduced and support for employment and welfare services to be bolsteredJun 27, 2024

Chairman Kim Joo-hyun of the Financial Services Commission held a meeting with officials from related government ministries and organizations on June 27 and announced a launching of a one-stop integrated microfinance platform from June 30 and the government's plan for bolstering the provision of joint financial, employment, and welfare assistance for those in need. The one-stop integrated microfinance platform will offer comprehensive microloan support programs for those in need and provide various referral services tailored to the specific needs of each individual, helping to connect them to further assistance through employment, welfare, and/or debt workout programs. In his opening remarks, Chairman Kim discussed the significance of launching this platform as a way to bolster support for financial inclusion. Along this line, Chairman Kim said that the FSC will also seek to strengthen support to help the victims of illegal private lending activities in close coordination with the Ministry of Justice and the Financial Supervisory service.