2.928 million diligent repayers see credit scores rise

'A single missed payment must not haunt someone for life'

[President Lee Jae Myung's X (formerly Twitter) account]
[President Lee Jae Myung's X (formerly Twitter) account]

President Lee Jae Myung said Saturday that the government would continue expanding opportunities for financial recovery, pledging to help people "rise again without being knocked down by a single hardship."

In a post on X, formerly Twitter, Lee said the government's credit recovery support program had raised the credit scores of about 2.928 million diligent repayers, allowing 116,000 of them to access bank loans and 38,000 to use credit cards for the first time.

Under the program, the credit scores of about 2.572 million individuals rose by an average of 29 points, while those of about 356,000 sole proprietors climbed an average of 45 points.

Regarding the results, Lee said the changes were "brought about by a policy designed to help those who quietly paid off their debts despite difficult circumstances get back to work, restart their businesses and carry on with their daily lives."

He went on to say that life can bring unexpected hardships — illness, accidents — that make it impossible to repay debts on time, but that "a single missed payment must not haunt someone for the rest of their life."

He added that the government would "build a society where anyone who works hard and sweats honestly can find hope again," and pledged to keep expanding what he called a sturdy "ladder of opportunity" so that immediate hardship does not push people to the edge.


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