Busan Comprehensive Support Center for Inclusive Finance Opens... One-Stop Service for Finance, Employment, and Welfare

First Nationwide Public-Private Partnership Model
Planned Expansion to Gwangju, North Jeolla, and Beyond

On July 3, the nation’s first public-private partnership comprehensive support center for inclusive finance, which provides financial support as well as employment and welfare services in one place, officially opened in Busan.

According to the Financial Services Commission, Lee Eogwon, Chairman of the Financial Services Commission, attended the opening ceremony of the 'Busan Comprehensive Support Center for Inclusive Finance' held on this day, together with Jeon Jaesoo, Mayor of Busan Metropolitan City; Kim Eunkyung, President of Korea Inclusive Finance Agency; Bin Daein, Chairman of BNK Financial Group; and Park Sangjin, Chairman of Korea Development Bank.

The Busan Comprehensive Support Center for Inclusive Finance is a community-based inclusive finance model in which the central government, local governments, public institutions, and local financial companies cooperate in a single location to provide integrated financial, employment, and welfare services.

Until now, the Financial Services Commission has operated the Inclusive Finance Integrated Support Center, offering policy-based inclusive finance, debt adjustment, financial support, and services connecting employment and welfare. However, there have been concerns about poor accessibility for residents in local areas, as well as the inconvenience of having to visit multiple institutions in person.

To address these issues, the Financial Services Commission opened the Busan Comprehensive Support Center for Inclusive Finance in cooperation with Busan City, related organizations, and private financial companies. The Korea Inclusive Finance Agency, Credit Counseling and Recovery Service, BNK Busan Bank, and Smile Microcredit Foundation have moved into the center, providing integrated consultation services for financial support, employment, and welfare.

During policy-based inclusive finance counseling, those with excellent credit can immediately receive private financial counseling from BNK Busan Bank. Vulnerable groups who have difficulty using institutional financial services will be connected to policy-based inclusive finance programs.

In addition, BNK Busan Bank is launching 'BNK Financial Ladder,' a dedicated loan and savings product offering preferential interest rates to users residing in Busan, Ulsan, and Gyeongnam. This product is part of the 'region-based credit build-up' initiative, which supports the financial inclusion of those with a record of faithful repayment but who are vulnerable to institutional credit.

The resident organizations also plan to operate a regular 'visiting comprehensive support' service, reaching out to local communities to improve accessibility for financially vulnerable groups.

Chairman Lee stated, "We will ensure that the Busan Comprehensive Support Center for Inclusive Finance becomes a new model of inclusive finance that not only helps individuals recover credit but also revitalizes families and the local economy, and that it expands nationwide."

The Financial Services Commission plans to establish similar comprehensive support centers for inclusive finance in Gwangju and North Jeolla Province, and to develop tailored support models reflecting regional characteristics to further expand the initiative nationwide.

This content was produced with the assistance of AI translation services.