Loans · Finance

SEMAS Refinancing Loan (Conversion of High-Interest Loans to a Fixed 4.5%, 대환대출): How to Apply, Amount & Eligibility (2026)

High-interest loans of 7% or more → fixed 4.5% per year · up to KRW 50,000,000 · 10 years (* SEMAS rate table shows 'program ended')

This page is a translation of the Korean original and is for reference only. The official Korean guidance is the authoritative source for amounts and conditions, so be sure to confirm on the official website before applying. View Korean original (한국어)

Benefit: Converts bank and non-bank loans at 7% or higher (or bank loans with difficulty in maturity extension, loans taken before 2025.6.30) of mid-to-low-credit small business owners (NCB score 919 or below) to a fixed 4.5% per year over 10 years (2-year grace + 8-year installments, or 10-year installments). Limit KRW 50,000,000 (minus any amount previously refinanced). Announced scale: KRW 300 billion.
Who is eligible: Small business owners with mid-to-low credit (NCB score 919 or below) who hold business loans or business-use household loans issued before 2025.6.30
When to apply: Proxy loan applications opened in 2026.1, then marked as ended after the budget ran out · check with SEMAS whether it will resume
How to apply: Small Business Policy Fund website (ols.semas.or.kr) → proxy loan handling banks · 1533-0100
Important notes: New applications appear to be closed at present (per SEMAS). The notice (10.1, 5th amendment) still lists KRW 300 billion, which conflicts — confirmation needed.
Note: The SEMAS 2026 3rd-quarter rate table shows 'Refinancing Loan (program ended)', so be sure to check whether applications are possible. Credit scores are not applied to those who have faithfully used repayment extensions or credit-vulnerable funds.

Go to the official guide →

Based on official sources as of 2026년 10월. Amounts and requirements may change, so please confirm with the official guide before applying.

Frequently asked questions

SEMAS Refinancing Loan (Conversion of High-Interest Loans to a Fixed 4.5%, 대환대출): who can receive it?

Small business owners with mid-to-low credit (NCB score 919 or below) who hold business loans or business-use household loans issued before 2025.6.30

SEMAS Refinancing Loan (Conversion of High-Interest Loans to a Fixed 4.5%, 대환대출): how do I apply?

Small Business Policy Fund website (ols.semas.or.kr) → proxy loan handling banks · 1533-0100

SEMAS Refinancing Loan (Conversion of High-Interest Loans to a Fixed 4.5%, 대환대출): how much will I receive?

Converts bank and non-bank loans at 7% or higher (or bank loans with difficulty in maturity extension, loans taken before 2025.6.30) of mid-to-low-credit small business owners (NCB score 919 or below) to a fixed 4.5% per year over 10 years (2-year grace + 8-year installments, or 10-year installments). Limit KRW 50,000,000 (minus any amount previously refinanced). Announced scale: KRW 300 billion.

SEMAS Refinancing Loan (Conversion of High-Interest Loans to a Fixed 4.5%, 대환대출): when can I apply?

Proxy loan applications opened in 2026.1, then marked as ended after the budget ran out · check with SEMAS whether it will resume