FSC to Set Up Integrated Crisis Support Center in Gangwon
On the afternoon of the 4th, Financial Services Commission (FSC) Chairman Lee Eok-won signed a business agreement with Gangwon Special Self-Governing Province Governor Oh Sang-ho, Korea Inclusive Finance Agency head Kim Eun-kyung (concurrently chairwoman of the Credit Counseling and Debt Restructuring Commission), and Shinhan Bank CEO Jung Sang-hyuk at Shinhan Bank's headquarters in Jung-gu, Seoul, to support ordinary citizens and vulnerable groups in Gangwon and strengthen community-based integrated support.
Speaking at the signing ceremony, Chairman Lee said, “Alongside individual efforts, the role of finance in underpinning them is crucial to overcoming compound economic crises,” adding, “The FSC aims to redefine the role of finance.” The role of finance as envisioned by the FSC is to provide substantive support for the economic recovery of ordinary citizens and vulnerable groups in connection with employment and welfare.
At the heart of the initiative is the “Gangwon Inclusive Finance Integrated Support Center.” The parties to the agreement plan to build and operate a center in Gangwon that brings together the government's integrated support system and private institutional finance under one roof. They also agreed to develop and offer region-tailored specialized financial products, such as preferential interest rates, to strengthen region-based inclusive finance. In addition, for residents who have difficulty visiting the center, the parties plan to expand a “visiting integrated support” service, in which counselors go directly into communities to provide consultations on inclusive finance, employment, and welfare.
The agreement marks the fourth regional expansion of the initiative, following Busan, Gwangju, and North Jeolla. Since 2024, the FSC has operated a government-wide comprehensive support system that provides one-stop guidance and referrals for financial, employment, and welfare services—previously fragmented across individual institutions—through 52 Inclusive Finance Integrated Support Centers nationwide. Since the introduction of integrated support, referrals from finance to related services such as employment and welfare have reached roughly 320,000 cases as of June this year.
In this regard, Governor Oh said, “The difficulties faced by vulnerable groups cannot be resolved by financial problems alone,” adding, “I hope this agreement, which links employment and welfare to finance and supports genuine economic self-reliance, will become a solid pillar that helps struggling residents of the province get back on their feet.” Agency head Kim said, “This community-based integrated support agreement will serve as a meaningful example of public-private cooperation, extending the initiative from Yeongnam and Honam to Gangwon.”
The FSC plans to expand community-based integrated support nationwide and continue to develop and pursue customized support suited to regional characteristics through cooperation among relevant institutions.
Shinhan Bank CEO Jung said, “Going forward, we will fulfill our responsibility as a private financial institution and actively practice inclusive finance so that customers can enjoy easier and more comfortable financial services.” Chairman Lee added, “Balanced development is not a choice or an act of charity, but an essential strategy for South Korea's survival and sustained growth,” adding, “We will work to ensure that all citizens, regardless of where they live, can fully enjoy the benefits of integrated support.”
