Weekly e-Briefing 9. Progress Report on Smile Microcredit Bank

Progress Report on Smile Microcredit Bank


Smile Microcredit Bank system is the program the Korean government is supporting and closely coordinating with Smile Microcredit Foundation. The program intends to help those people who have viable business plans and who have a will to stand on their own. Smile Microcredit Foundation  helps them with consultation and provide financial support. Since December 15th, 27 branches of Smile Microcredit Bank have been established throughout the nation. In terms of applications, precisely speaking, as of February 4th, 15,709 people applied and about 33% of them were qualified. But there seems to be complaint in the market that the program only helped 300 hundred people. In terms of amount, only slightly over KRW 2 billion. To  further develop the program, the program will develop and integrate information system to provide faster and enhanced services. And second, by using outsource, the program will train those people and have better qualified assessment. And the program will develop the Korea model to diversify those people who could be applied by this program. Finally,  sometime in May or June, Smile Microcredit Bank Foundation will host an international seminar.    Please visit http://www.fsc.go.kr/eng/index.jsp for more details.


About FSC Korea
The Financial Services Commission has been established for the purpose of protecting the integration of Korea’s financial markets by promoting sound credit system and fair business practices. To this end, the FSC serves as a consolidated policy making body for all matters pertaining to supervision of the financial industry as a whole. To raise the efficiency, the posts of the FSC Chairman and the FSS Governor were separated on March 2008 for clear distinction between policy-making and execution of financial market supervision

One Response to Weekly e-Briefing 9. Progress Report on Smile Microcredit Bank

  1. brad says:

    sup there. excuse me if this a little off topic but if you or someone you know are trying to find a way to earn cash on the net I hope you visit CashClown. Take care.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: