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Busan Metropolitan City Launches the 2026 Youth Credit Recovery Support Program to Help Young Adults with Debt Get Back on Their Feet

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Busan Metropolitan City (Mayor Park Heong-joon) announced that it will implement the “2026 Youth Credit Recovery Support Program” for Busan residents aged 18–39, providing (1) support for debt restructuring and delinquency prevention costs, (2) one-on-one (1:1) financial counseling, and (3) tailored financial education.

The Youth Credit Recovery Support Program is designed for young adults who are newly entering society and tend to have limited income and assets as well as little financial experience. By offering support for debt restructuring and delinquency prevention costs, individualized financial counseling, and economic education, the program aims to help young adults engage in stable social and economic activities.

In particular, beginning this year, Busan Metropolitan City will link the program with the Youth Activity Mileage Program. Young participants who complete an in-person financial consultation with an advisor and write a review will earn mileage points.

The Youth Activity Mileage Program awards mileage points—paid out as Dongbaekjeon points (Busan local currency)—to young people who participate in city initiatives. This linkage is expected to increase participation in financial counseling and enhance satisfaction with the consultations.

First, through “Support for Debt Restructuring and Delinquency Prevention Costs,” the city will help young adults with debt restore their credit, prevent delinquency, and reduce the risk of excessive debt accumulation.

For debt restructuring costs, Busan Metropolitan City will provide up to KRW 1,000,000 to young adults who have difficulty repaying their debts under normal terms and proceed with procedures such as an Individual Workout, pre-workout and fast-track debt adjustment, or individual rehabilitation.

For delinquency prevention costs, even if a young adult does not use the debt adjustment system, the city will provide up to KRW 1,000,000 if the ratio of the planned monthly debt repayment amount to average income is 30% or higher, indicating an excessive repayment burden.

In particular, for young adults facing a credit crisis due to unexpected debt incurred from jeonse fraud, Busan Metropolitan City will (1) provide up to KRW 1,500,000 in debt restructuring costs and (2) provide up to KRW 1,000,000 in delinquency prevention costs even when the planned monthly debt repayment amount is 20% or higher relative to average income, regardless of delinquency risk or delinquency history requirements.

Support for debt restructuring and delinquency prevention costs will be determined after screening following an in-person consultation with an advisor, and will be provided until the budget is exhausted. Prior consultation 신청 is mandatory. For details, visit the Busan Youth Hope Credit Counseling Center website (https://부산청년희망.kr) or the Busan Youth Platform (https://young.busan.go.kr).

In addition, Busan Metropolitan City will operate “One-on-One (1:1) Financial Counseling,” including in-person and non-face-to-face counseling, as well as two evening counseling sessions per month for office workers. The city will also provide “Tailored Financial Education” to help young adults develop sound financial habits and strengthen financial management capabilities.

Busan Metropolitan City operates the Busan Youth Hope Credit Counseling Center within the Busan Credit Guarantee Foundation to provide young adults in Busan with personalized financial counseling—covering credit management, consumption and expenditure management, and debt management—through professional financial advisors.

The center provides one-on-one (1:1) counseling tailored to each individual’s financial circumstances through various formats, including in-person counseling, online counseling via a consultation board, and non-face-to-face counseling via ZOOM. Evening counseling is also available until 8:00 p.m. on the first and third Wednesdays of each month.

In addition, the center regularly offers financial education on a range of topics of interest to young adults—such as investments, pensions, and year-end tax settlement—through group sessions and small discussion meetups, primarily during weekday evenings.

Young adults who wish to participate in counseling and education can check the schedule and apply through the center website (https://부산청년희망.kr).

Kim Gwi-ok, Director General of the Youth and Industry-Academia Cooperation Bureau of Busan Metropolitan City, said, “We hope that the cost support, financial counseling, and financial education will help young adults experiencing economic hardship establish a stable foundation for their lives,” adding, “We will continue to actively support young adults so they can plan their futures based on financial counseling tailored to their circumstances and achieve genuine financial independence.”