Low Application Rate for Debt Restructuring in Gyeonggi Province

Applications for debt restructuring among credit-delinquent recipients of basic living allowance in Gyeonggi Province have been sluggish.

According to the province on the 2nd, from April through the 29th of last month, debt restructuring applications were received from 22,411 basic living allowance recipients in Gyeonggi Province who are credit-delinquent, resulting in 6,465 applications, or 28.8% of the total eligible population.

This application rate falls below the national average of 35.2% and ranks third-lowest among the country's 16 metropolitan jurisdictions, after Seoul (26.5%) and Jeju (26.7%).

Notably, among the province's 31 cities and counties, 11 areas including Hanam (65.3%), Bucheon (50.5%), Siheung (36.2%), and Goyang (36.1%) exceeded the 30% threshold, while 9 areas such as Yongin (17.4%) and Yeoju County (9.4%) showed notably low application rates of 20% or less.

As the application deadline for basic living allowance recipients' debt restructuring approaches on November 8th, the province has directed local cities and counties to provide Korea Asset Management Corporation's mobile reception desks to enable more residents to receive credit recovery support and to strengthen publicity efforts through resident association newsletters and banners.