Five Major Financial Groups Supply 11.3 Trillion Won in Inclusive Finance in H1... Achieve 16% of Five-Year Target

KB and Woori Raise Annual Supply Targets
FSC: "Establishing an Inclusive Finance System as the New Normal"

The five major financial holding companies supplied a total of 11.3 trillion won in inclusive finance during the first half of this year, achieving approximately 16% of their five-year supply target.

According to the Financial Services Commission (FSC) on July 12, Shin Jin-chang, Secretary General of the FSC, held a "Progress Review Meeting on Inclusive Finance" on July 10 with executives in charge of inclusive finance from the five major financial holding companies—KB Financial Group, Shinhan Financial Group, Hana Financial Group, Woori Financial Group, and NH Financial Group—to review the first-half performance and share future plans.

Previously, in January, the five major financial holding companies announced their intention to supply a total of 70 trillion won in inclusive finance over a five-year period from 2026 to 2030. The core of the initiative is to enhance financial accessibility for individuals with mid- to low-credit scores and small business owners through policy-based products such as Sae-Hope Special Loans and each holding company's unique financial products for low-income groups, as well as to support economic recovery by easing financial burdens and providing debt restructuring.

The inclusive finance supplied in the first half amounted to 11.3 trillion won, which is about 16% of the total target. Of this, self-initiated debt restructuring for delinquent loans accounted for 2.3 trillion won (135,000 cases), while the write-off of long-term delinquent loans reached approximately 1.5 trillion won (119,000 cases). Through these measures, the holding companies supported financially vulnerable borrowers in returning to normal economic activities.

By company, KB Financial Group supplied the largest amount at 2.4883 trillion won, followed by Shinhan Financial Group at 2.42 trillion won. NH Financial Group supplied 2.1431 trillion won, Hana Financial Group 2.1398 trillion won, and Woori Financial Group 2.1 trillion won, meaning all five major groups supplied inclusive finance in the low-to-mid 2 trillion won range.

Some financial holding companies also raised their annual supply targets. KB Financial Group plans to supply approximately 7 trillion won this year by adding 3.5 trillion won in private-sector mid-rate loans and 500 billion won in proactive write-offs of delinquent loans before the expiration of the statute of limitations, on top of its original target of 3 trillion won. Woori Financial Group also expanded its annual target from 1.2 trillion won to more than 3.5 trillion won.

An official from the FSC stated, "We will continue to monitor to ensure that the expansion plans for inclusive finance by the five major financial holding companies are effectively implemented," adding, "We will promote the introduction of a comprehensive evaluation system for inclusive finance, the designation of dedicated chief officers, rationalization of prudential regulations, and improvements in credit evaluation systems, with the Inclusive Finance Strategy Task Force at the center, to redesign the private financial system to be more inclusive."

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