- Benefit
- Small debt discharge: for basic livelihood recipients, people with severe disabilities and those with income at or below 150% of the minimum cost of living (about KRW 1.54 million for 1 person in 2026), overdue 1 year or more with principal of KRW 5,000,000 or less; after a 1-year interest-free deferral, discharge is reviewed. Special discharge for vulnerable debtors: for basic livelihood recipients, people with severe disabilities, people aged 70 or older, etc., overdue 90 days or more with principal of KRW 50,000,000 or less; principal reduced by up to 50-90%, and if half or more of the adjusted debt is repaid over 3+ years, the remainder is waived. Special restructuring for long-term overdue debtors: overdue 5 years or more and median income at or below 125%, principal reduced by 30-80%, up to 10 years.
- Who is eligible
- Basic livelihood recipients, people with severe disabilities, people aged 70 or older, low-income long-term overdue debtors
- When to apply
- Year-round
- How to apply
- Credit Counseling and Recovery Service (신용회복위원회) 1375, consultation reservation via app or internet, or branch visit
- Important notes
- Discharge conditions require meeting both the repayment plan period and the cumulative number of repayments
- Note
- Income criteria (as of 2026) differ by target group, so check during consultation. This is a separate path from the New Leap Fund (새도약기금; overdue 7+ years).
Based on official sources as of 2026년 10월. Amounts and requirements may change, so please confirm with the official guide before applying.