The government has decided to increase the supply of policy financial support for low-income households to 11 trillion won this year. Various support programs for low-income financial consumers, including debt restructuring for over-indebted individuals, are also planned to be operational.
On the 9th, the Financial Services Commission held the '1st Low-Income Financial Council of 2025' chaired by Vice Chairman Kim So-young, announcing this information. The Low-Income Financial Council is a meeting body composed of relevant agencies and experts in low-income financial support, aimed at promoting low-income financial policies consistently from a comprehensive perspective.
The Low-Income Financial Council has decided to expand the supply of policy financial support for low-income households. This year, the supply amount is 10.8 trillion won, which is an increase of 400 billion won compared to last year (10.4 trillion won). The financial authorities plan to expedite the early execution of major policy financial products in the first half of this year to ensure flexible management of funds.
The role of private financial institutions will also expand. The financial authorities will enhance the self-debt restructuring functions of financial institutions to alleviate the debt burden of over-indebted individuals. Financial institutions are expected to collaborate with the public sector to provide combined support in finance, employment, and welfare to enhance the self-reliance capacity of vulnerable groups.
Response to illegal private lending will become strict. With the passage of an amendment to the Lending Business Act that regulates the nullification of anti-social illegal lending contracts and limits the criminal profits of illegal lenders, the Financial Services Commission plans to establish subordinate regulations to ensure that the new system is quickly settled in the market.
Vice Chairman Kim emphasized, "Efforts to enhance the inclusiveness of finance must continue based on serious considerations of the inequality issue."