Kakao Bank CEO Yun Ho-young: "Expanding Inclusive Finance"... Joins "Life-saving Finance" Campaign

Yun: "Illegal Private Lending Is a Challenge for Society as a Whole"
Recommends Choi Woohyung of K Bank and Yoo Myungsoon of Citibank Korea as Next Participants

Yun Ho-young, CEO of Kakao Bank, participated in the "Life-saving Finance" relay campaign.

Yun Ho-young, CEO of Kakao Bank, is taking photos to participate in the 'Life-saving Finance' relay campaign. Kakao Bank

On August 25, Kakao Bank announced that it had posted a photo of CEO Yun joining the "Life-saving Finance" relay campaign on social networking services (SNS) such as Facebook.

This campaign, organized by the Korea Inclusive Finance Agency, was launched to raise awareness of the dangers of illegal private lending and to draw greater social attention to the protection of financially vulnerable groups. The campaign is conducted in a way that each participant nominates the next person to join, including figures from the financial sector and various other fields.

Illegal private lending refers to financial activities that violate consumers' rights, such as unregistered lending, loans with interest rates above the legal maximum, and unlawful collection practices. Financially vulnerable individuals who have difficulty accessing institutional financial services are particularly at risk in urgent situations where they need funds.

CEO Yun stated, "The harm caused by illegal private lending is not just an individual's problem, but a challenge that our society must work together to solve," adding, "We will expand inclusive finance and fulfill our social responsibility to prevent the financially vulnerable from being driven into illegal private lending."

Having been nominated by Jeong Jin-wan, president of Woori Bank, CEO Yun recommended Choi Woo-hyung, president of K Bank, and Yoo Myung-soon, president of Citibank Korea, as the next participants in the relay campaign.

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