KB Kookmin Bank announced on July 12 that it will implement a special debt relief program for vulnerable groups starting July 13.
The program aims to alleviate the debt burden by reducing the principal of special bonds held by socially disadvantaged individuals by up to 90%, facilitating quicker credit recovery and economic re-engagement.
Eligible participants include basic livelihood recipients, low-income households, individuals with severe disabilities, veterans with disability ratings, victims of herbicide exposure, disaster victims, and single-parent families with youth.
To expedite support for customers facing financial difficulties, KB Kookmin Bank has streamlined the application process. Customers seeking debt adjustment can visit one of the six KB Hope Financial Centers nationwide or contact the customer service center for guidance.
A bank representative stated, "This program was established to assist customers struggling with debt in normalizing their financial transactions and re-entering economic activities."
* This article has been translated by AI.
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