Shinhan Bank's cumulative donations reach 51 billion won

Shinhan Bank President Jung Sang-hyuk (right) and Korea Legal Aid Corporation Chairman Kim Young-jin pose for a photo at a donation ceremony held Tuesday at the corporation's Seoul Personal Rehabilitation and Bankruptcy Support Center in Seocho-gu. [Shinhan Bank]
Shinhan Bank President Jung Sang-hyuk (right) and Korea Legal Aid Corporation Chairman Kim Young-jin pose for a photo at a donation ceremony held Tuesday at the corporation's Seoul Personal Rehabilitation and Bankruptcy Support Center in Seocho-gu. [Shinhan Bank]

Shinhan Bank said Wednesday it has donated 1.75 billion won ($1.29 million) to the Korea Legal Aid Corporation to help young people and other borrowers in financial distress access legal services and rebuild their lives. The funds are intended to support those burdened by heavy debt, covering everything from initial legal consultations to personal rehabilitation and bankruptcy proceedings.

The bank held a donation ceremony Tuesday at the corporation's Seoul Personal Rehabilitation and Bankruptcy Support Center in Seocho-gu. Shinhan Bank President Jung Sang-hyuk and Korea Legal Aid Corporation Chairman Kim Young-jin attended.

The donation will go toward identifying distressed borrowers, providing legal consultations, and funding legal aid services including personal rehabilitation and bankruptcy cases. The bank said it aims to broaden the path to recovery for vulnerable groups by pairing financial relief with legal support. Working through the Seoul center, the two organizations plan to systematically assist borrowers in need — from initial consultations through the full legal process required to resolve debt problems.

Shinhan Bank has partnered with the Korea Legal Aid Corporation since 1997 to support low-income and vulnerable groups who cannot afford legal services. Last year, the bank donated 1.75 billion won to fund free legal aid for victims of jeonse fraud, a rental deposit scam. Cumulative donations through last year have reached 51 billion won.

Through the partnership, the two organizations have provided 298,099 legal aid cases to vulnerable groups — including basic livelihood recipients — benefiting 312,208 people in total through this year. For jeonse fraud victims specifically, they offered legal consultations to 16,298 people and handled 4,825 legal aid cases.

"Helping those who are struggling with financial hardship and heavy debt to get back on their feet is an important social role of finance," Jung said. "We will continue working with the Korea Legal Aid Corporation to close the gaps in financial and legal support and help vulnerable people make a healthy recovery."

Kim said the corporation would "do its utmost to actively identify young people and other legally vulnerable groups in need, and provide systematic support — from legal consultations to personal rehabilitation and bankruptcy proceedings — so that their legal problems can be genuinely resolved."


forest@heraldcorp.com