Business · Companies · 2 hrs ago
Samsung and banks to put 800 billion won into microcredit
Samsung and South Korea’s banks will contribute 800 billion won to Smile Microcredit, a programme supporting people with limited access to credit.
Its intended beneficiaries include young people with low credit ratings and small business owners.
The government says the new funding will help double annual microcredit lending to 600 billion won by 2028, from about 300 billion won now.
The expansion is meant to increase access to loans for people who may struggle to borrow through other channels.
Tailored low-interest loans will also expand for young delivery workers and people moving into farming.
The plans set out more lending and targeted support through 2028.
Samsung and banks will contribute 800 billion won to microcredit for people with low credit ratings and small business owners.
The government plans to use the funding to double annual microcredit provision to 600 billion won by 2028.
Low-interest loans tailored to young delivery workers and people moving into farming will also be expanded.
- Who
- Samsung and banks.
- What
- They will contribute 800 billion won to microcredit.
- When
- The article was published on October 30, 2026. The expansion target is set for 2028.
- Where
- Not stated.
- Why
- To support people with low credit ratings and small business owners.
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- Contribution
- 800 billion won from Samsung and banks
- Annual provision now
- About 300 billion won
- Annual provision target
- 600 billion won by 2028
- Tailored loan groups
- Young delivery workers and people moving into farming