Gangwon State to Strengthen Integrated Support for Low-Income Residents, Establishing a Locally Tailored System

【Financial News Chuncheon=Reporter Kim Ki-seop】Gangwon State is establishing an integrated support system that connects financial, employment and welfare services in one place to help low-income and vulnerable residents rebuild their lives.
According to Gangwon State on the 4th, Gangwon State, the Financial Services Commission, the Korea Inclusive Finance Agency, the Credit Counseling and Recovery Service and Shinhan Bank signed an agreement that day at Shinhan Bank’s headquarters to promote locally tailored integrated support. The ceremony was attended by Gangwon State Governor Woo Sang-ho, Financial Services Commission Chairman Lee Eok-won, Korea Inclusive Finance Agency President Kim Eun-kyung and Shinhan Bank CEO Jung Sang-hyuk, among others.
The agreement was designed to provide practical assistance for the economic independence of low-income and vulnerable residents by linking employment and welfare services with financial support. It also aims to improve access for residents who have difficulty using financial services because of Gangwon’s large geographic area.
Since 2024, the Financial Services Commission has been providing integrated support that connects policy-based inclusive finance and debt adjustment with employment and welfare services through 52 inclusive-finance integrated support centers nationwide. However, Gangwon State is about 30 times larger than Seoul but has only four such centers. The number of people linked to integrated support services also remains at about 10% of Seoul’s level, prompting calls for a stronger system tailored to the region’s characteristics.
Under the agreement, the institutions will work to establish a Gangwon inclusive-finance integrated support center where residents can access the government’s integrated support system and private financial services in one place.
At the center, the Korea Inclusive Finance Agency, the Credit Counseling and Recovery Service and private financial institutions will cooperate to provide one-stop consultations on policy-based inclusive finance, debt adjustment, employment and welfare. Outreach integrated support services will also be expanded for residents who have difficulty visiting the center. Gangwon State will work with cities and counties to identify counseling demand and provide locations, while inclusive-finance institutions will visit communities directly to offer comprehensive consultations and referrals involving finance, debt adjustment, employment and welfare. Training and public-relations efforts between welfare officials at administrative welfare centers and inclusive-finance counselors will also be strengthened to reduce blind spots where people miss out on support simply because they are unaware of it.
Cooperation with private financial institutions will also be expanded. Gangwon State plans to work with Shinhan Bank to develop financial products reflecting regional characteristics, including preferential interest rates for integrated-support users. The initiative is intended to create a financial bridge that helps low-income and vulnerable residents enter the formal financial system and build assets.
Gangwon State Governor Woo Sang-ho said, "By connecting debt adjustment with employment, welfare and regionally tailored financial products, we will create a foundation to help residents facing difficulties get back on their feet." He added, "Even a good policy has no meaning if it does not reach people, so we will strengthen outreach counseling and public-relations efforts to ensure that residents can feel the benefits in their communities."

[email protected] Kim Ki-seop Reporter