Korean Red Cross to provide up to KRW 500,000 in living expenses to debt-adjustment recipients; beneficiaries tripled
- Input
- 2026-09-17 16:40:19
- Updated
- 2026-09-17 16:40:19
The Korean Red Cross announced on the 17th that it would run the Kiumiga Dahae Dream program with KAMCO and Industrial Bank of Korea. The KRW 150 million donated by KAMCO will be used to fund assistance for living, medical, education and housing expenses.
Launched in 2024 and entering its third year, the program will expand the number of beneficiaries from 90 in previous years to 270 this year. This means 180 additional people will be able to receive living-expense support.
The program supports essential expenses, including living and medical costs, that continue after debt adjustment. It is designed to help debtors maintain their livelihoods while creating conditions that allow them to repay their debts.
Eligible recipients are debtors who newly enter into debt-adjustment agreements through KAMCO, the New Leap Fund, the Saechulbal Fund or the National Happiness Fund. KAMCO will inform those who meet the eligibility requirements and accept applications through October 30.
KAMCO and the Korean Red Cross will review the applications and select the final recipients in November. Those selected must open a new account at Industrial Bank of Korea and receive a debit card. Selection may be canceled if they fail to open the account within the designated period.
The Korean Red Cross will provide the funds to recipients who complete the account-opening process and monitor whether the money is used for its intended purposes based on their card transactions.
Park Jong-sul, secretary general of the Korean Red Cross, said, "I hope this will help ease the financial burden on financially vulnerable people and support them as they prepare for an economic recovery," adding, "We will ensure that the funds reach those who need them and are managed so they are used for their intended purposes."
[email protected] Jang In-seo Reporter