Small loans and financial support
Turning to private lenders in an emergency makes life far harder. Public channels come first.
Call this first
1397 — Korea Inclusive Finance Agency call centre
They guide you to policy microfinance products for people on low incomes or with impaired credit. They also advise on debt restructuring, financial education and welfare referrals, not just loans.
What is available (outline)
- Policy microfinance products — living costs, emergency funds. Requirements apply.
- Debt restructuring — if you already owe a lot, repayment can be restructured. Credit Counseling and Recovery Service 1600-5500.
- Emergency welfare support — in a sudden crisis you may qualify for support rather than a loan. 129. See emergency-welfare.
- Named products such as Miso Finance and Sunshine Loan — names and requirements change, so confirm with 1397.
Availability to foreign residents depends on the product and residence status. Check your own case with 1397.
Never do this
- Illegal private lending — interest balloons beyond what you can pay and leads to threats.
- Lending your bankbook, card or ID — it will be used in crime, and the registered holder is punished.
- "Document loans" — borrowing using forged documents. This is a crime.
- Upfront payment demands — anyone asking you to send money first to receive a loan is running a scam, without exception.
Where to go
- 1397 Korea Inclusive Finance Agency
- 1600-5500 Credit Counseling and Recovery Service
- 129 Health and Welfare Call Centre (emergency welfare)
- 1332 Financial Supervisory Service (illegal finance reports)
- 112 for threats and illegal debt collection
- 1577-1366 · 1345 interpretation
Questions people ask
Can foreigners get loans? It depends on the product and your status. Ask 1397 about your own case. Don't assume the answer is no.
An illegal lender is threatening me. Report to 112 immediately and also consult 1332. Threats and assault are separate crimes.
My debts are beyond what I can repay. Consult 1600-5500 about debt restructuring. Don't carry it alone.
I have no money for daily living right now. Before borrowing, call 129 about emergency welfare support. There may be help you do not repay.
Take care
"Instant loans, no credit check, no documents" is always illegal or fraudulent. Offers targeting foreigners to borrow a bankbook in particular make you an accomplice in voice phishing crime. Never agree.
Related
emergency-welfare · basic-livelihood · startup-support · bank-account
Source
Korea Inclusive Finance Agency www.kinfa.or.kr / As of 2026-08