- Benefit
- Eligibility (all must be met): overdue 7 years or more (overdue began before June 19, 2018), individual overdue debtor (including sole proprietors) with total principal across financial companies of KRW 50,000,000 or less. The fund buys debts in bulk without a separate application, then assesses ability to repay. No ability to repay (median income at or below 60%, no assets other than livelihood-related property, 2 or fewer entries/exits in the last 5 years, etc.): write-off (up to KRW 50,000,000 per person). Ability to repay: debt restructuring (principal reduced by up to 80%).
- Who is eligible
- Individuals (including sole proprietors) with debt overdue 7+ years and principal of KRW 50,000,000 or less
- When to apply
- Guidance given after the fund buys debts in bulk (implemented in 2025)
- How to apply
- New Leap Fund call center 1660-0705 (purchase and progress status); for debt restructuring, Credit Counseling and Recovery Service 1375
- Important notes
- Debts that became overdue before June 19, 2018. Check New Leap Fund announcements for the timing of additional purchases
- Note
- A separate path from the Credit Counseling and Recovery Service (신용회복위원회) special restructuring for long-term overdue debtors (5+ years, median income at or below 125%). If written off, the repayment obligation is extinguished. Check purchase and progress status with the call center.
Based on official sources as of 2026년 10월. Amounts and requirements may change, so please confirm with the official guide before applying.