'Upbit Next Series' program delivers tailored financial independence support

Targets adults under 40 undergoing debt restructuring

1.15 billion won in interest-free loans, 75.8% average repayment rate

A promotional image for Dunamu's tailored financial independence program, Upbit Next Series. [Dunamu]
A promotional image for Dunamu's tailored financial independence program, Upbit Next Series. [Dunamu]

Dunamu has helped 4,122 young people struggling with debt and social isolation rebuild their credit and achieve financial independence.

The company said Wednesday that its tailored financial independence program, Upbit Next Series, supported 4,122 young people in recovering their credit standing over the past three years. The program goes beyond simple financial aid, offering a three-stage solution — credit recovery, asset building and employment linkage — for youth in crisis.

A key component of the initiative, a sub-program called Upbit Next Series: Didim (formerly Next Dream), targets people under 40 undergoing debt restructuring through the Credit Counseling and Recovery Service. It provides financial consulting, living expense support and interest-free subsistence loans, and has so far assisted 936 people.

Dunamu said 476 of those participants received financial consulting and living expense support, with veteran consultants from institutions including the Bank of Korea and the Korea Life Insurance Association conducting a total of 2,732 personalized sessions. An additional 460 people in urgent need of funds received interest-free subsistence loans totaling 1.15 billion won ($813,000), repayable over up to 36 months. On average, recipients repaid 75.8 percent of the loan amount.

Dunamu said the program's significance lies not only in the financial assistance provided but also in the positive psychological changes it has fostered among participants. An analysis of first-round data on mentoring effectiveness in the program's third year found that all three key indicators related to economic independence improved. Specifically, participants' positive outlook on their future financial situation rose 27 percent, economic resilience increased 16 percent and financial management capability climbed 13 percent.

Dunamu also shared individual success stories from the program. One participant, identified only as A, accumulated tens of millions of won in debt due to a gambling addiction during military service but found a new path through the program's support. Encouraged by a mentor's advice, he took on part-time work and repaid 10 million won in debt in just three months. Another participant, B, who had been earning 700,000 won a month, developed a savings habit through mentoring.

"Through personalized financial consulting, young people are regaining not only their economic capabilities but also their psychological resilience, and the high repayment rate of 75.8 percent proves that change," a Dunamu official said. "We will continue to strengthen support through Upbit Next Series so that more young people can break free from the cycle of debt and return as full members of society."


chami@heraldcorp.com