Naver Financial to Assess Loans for Small Business Owners and Mid-to-Low Credit Borrowers Using Non-Financial Data
Financial Services Commission Holds 10th Designated Agent Review Committee Meeting
The Financial Services Commission named Naver Financial's "Credit Loan Assessment Service for the Financially Underserved Using Non-Financial Data" as a designated agent on August 26, 2026. This is expected to lower the barriers for small business owners and individuals with mid-to-low credit scores, who previously had difficulty receiving fair credit assessments based solely on existing financial information, making it easier for them to access loans.
On this day, the Financial Services Commission held the "10th Designated Agent Review Committee" and made this decision.
The designated agent system allows fintech companies and other entities to be entrusted with part of financial institutions' core work, enabling them to pilot innovative financial services. Once designated as a designated agent by the Financial Services Commission, an entity can perform financial services entrusted by financial institutions within the approved scope.
As a result of this designation, Naver Financial will conduct alternative credit assessments for small business owners and individuals with mid-to-low credit scores using non-financial data. For individual business operators, non-financial data such as the number of Smart Store visitors and sales amounts will be used for credit assessment. For individuals, data such as payment and content creation records will be utilized. Based on these assessments, K Bank and Welcome Savings Bank will examine and determine loan eligibility and limits, and execute loans accordingly.
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A representative from the Financial Services Commission stated, "We expect the implementation of this service to expand funding opportunities for small business owners and individuals whose credit scores are in the bottom 50 percent." The official added, "By improving financial accessibility and alleviating financial cost burdens, this service will enhance consumer welfare and further promote inclusive financial services."
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