Regulatory Alerts2025-08-11 | 85075Credit Recovery Support for Delinquent Debtors Paying Off Overdue Debt
The Financial Services Commission announced a credit recovery support plan expunging overdue debt history for individuals and business owners with debts up to KRW50 million who fully repay by December 2025. Starting September 30, 2025, financial companies will suspend sharing delinquent history to facilitate credit score recovery and restore access to loans without interest rate or amount disadvantages. Approximately 2.72 million eligible individuals have already cleared their debts, while 520,000 others can qualify by meeting the full repayment deadline.
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