The National Credit Union Federation of Korea (Shinhyup) said on the 28th it will supply inclusive finance worth 1 trillion won every year. It will also create an inclusive finance support fund of about 50 billion won.
On this day, Shinhyup held an "inclusive finance vision proclamation and policy forum" at the National Assembly Library auditorium and said this while presenting "finance together, inclusive Shinhyup" as its vision.
The event was co-hosted by National Policy Committee Chairperson Yoo Dong-soo and ruling and opposition party secretaries Park Sang-hyuk and Seo Il-joon. More than 300 officials, including Vice Chairperson Kwon Dae-young of the Financial Services Commission, also attended.
Shinhyup will support ▲ 200 billion won for mid- to low-credit borrowers ▲ 300 billion won for low-income individuals ▲ 100 billion won for online Saitdol loans ▲ 200 billion won for online Sunshine Loans ▲ 200 billion won for social finance. The total comes to 1 trillion won.
It will also provide principal protection and interest subsidies through the "Shinhyup inclusive finance support fund."
Ko Young-chul, president of the National Credit Union Federation of Korea, said, "With this vision proclamation as a turning point, we will leap forward as a leader in inclusive finance that thoroughly fills Korea's financial blind spots through a nationwide regional network."