Saedoyak Fund Cancels Fourth Batch of Long-Overdue Debts of Vulnerable Groups — 183,000 People
Source material is a Korean government announcement (in Korean).
The Saedoyak Fund cancelled long-overdue debts of 183,000 people (1.6 trillion won) on October 2, and those covered will be notified by text message from mid-October.
Key facts
| Fourth cancellation | 183,000 people, 1.6 trillion won |
|---|---|
| Cumulative purchases (1st–6th) | 957,000 people, 11.7 trillion won |
| How to be notified | SMS from mid-October; website, customer center 1660-0705, 12 counseling centers |
| Next steps | Cancellations continue every quarter; additional cancellation planned in Q4 |
Last checked:
The Saedoyak Fund (새도약기금) carried out the fourth cancellation of long-overdue debts of socially vulnerable groups on the 2nd. Of the debts of 957,000 people worth 11.7 trillion won acquired through purchases 1 to 6, debts of 183,000 people worth 1.6 trillion won were cancelled. Those covered will be notified by text message (SMS) from mid-October, and can also check through the Saedoyak Fund website, its customer center (1660-0705) and 12 counseling centers nationwide. Debtors whose debts are cancelled can receive the lifting of legal measures such as bank account seizures and cost support.
Summaries below are factual notes based on government announcements and primary sources — not evaluations or opinions.
FAQ
Where can I check whether I am covered?
You can check on the Saedoyak Fund website (https://www.newleap.or.kr/), the customer center (1660-0705) and 12 counseling centers nationwide.
What support is available after debt cancellation?
Legal measures such as bank account seizures are lifted, and cost support is available.