The Financial Supervisory Service (FSS) held an awards ceremony for the 4th "Co-prosperity and Cooperation Financial New Products" competition at its main office in Yeouido, Seoul on the 11th, introducing a variety of innovative financial products.
A total of 27 co-prosperity and cooperation financial products were submitted to the competition, and six of them were selected as excellent cases.
The selected products focus on addressing issues such as low birth rates, supporting youth independence, and reducing burdens for small business owners and farmers.
Woori Bank's "Youth Student Loan Repayment Support Cashback" product received positive reviews for providing a cashback benefit of up to KRW 300,000, which is 50% of the principal and interest repayment amount of student loans.
Busan Bank's "Baby Angel Savings" was selected as an excellent case for offering preferential interest rates of up to 6% points to multi-child families, thereby reducing their financial burden.
Additionally, NongHyup Bank's "New Start Happy Rural Co-prosperity Loan" was selected for providing low-interest agricultural operating funds to all farmers.
Other selected excellent cases include IM Bank's "Daegu Metropolitan City Co-prosperity Traditional Market Special Guarantee Loan," KB Kookmin Bank's "KB Small Business Support Project," and Mirae Asset Life Insurance's "Premium Payment Deferral Rider."
The FSS stated, "We will continue to discover and select financial products that provide practical benefits to consumers," and plans to post information on the selected excellent financial products on its website for a year.
Meanwhile, the FSS plans to hold the 5th Co-prosperity and Cooperation Financial New Products Competition for financial products launched between June and November this year.
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FSS Holds Awards Ceremony for Excellent Cases in the Co-prosperity and Cooperation Financial New Products Competition
The Financial Supervisory Service (FSS) held an awards ceremony for the 4th
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