South Korea has introduced a one-stop support system for victims of illegal private lending.
This policy streamlines victim reporting and integrates legal, financial, and recovery services.
The new system launches in early 2024, with expanded support and lower interest rates.
The Financial Services Commission (FSC) has announced a revision to the Enforcement Decree of the Lending Business Act to strengthen support for victims of illegal private lending.
From January 26 to March 9, 2026, the draft will be open for public comment, enabling victims to access all relief procedures with a single report.
The expanded role of the Credit Counseling & Recovery Service and related agencies is expected to accelerate victim support and block illegal lending activities.