TITLE: South Korea's Financial Supervisory Service Launches One-Stop Support System for Illegal Loan Collection Victims
BODY:
On March 9, 2026, South Korea's Financial Supervisory Service (FSS) announced the launch of a comprehensive one-stop support system to address illegal debt collection and provide victim relief. The system became operational on March 9, 2026, following a pilot testing period from February 23 to March 6, 2026.
The one-stop integrated support system assigns dedicated case managers from the Community Finance Integration Support Center to handle victim reports. Through a single report, citizens can now access multiple services including cessation of illegal collection activities, litigation support, and additional policy-based assistance. The FSS conducted field consultation sessions during the pilot phase to gather feedback from service providers and users on the system's effectiveness and identify areas for improvement.
The initiative builds on a government-wide cooperation framework established on February 6, 2026, involving the Prime Minister's Office, Financial Services Commission, National Police Agency, FSS, Community Finance Promotion Committee, Korea Savings Bank Association, and the Legal Aid Corporation. To strengthen coordination, participating agencies executed a memorandum of understanding (MOU) to establish closer operational collaboration. The system extends support through connections with local government welfare foundations, ensuring comprehensive coverage across multiple service channels.
The FSS coordinated with relevant government agencies and institutions to develop this integrated approach to combating illegal private lending and supporting affected consumers through streamlined victim assistance mechanisms.
**References:**
Financial Supervisory Service (FSS) Press Release, March 9, 2026