Dunamu supports 4,122 debt-ridden and isolated youths, linking them to jobs

Dunamu, the operator of South Korea's leading virtual asset exchange Upbit, announced that its 'Upbit Next Series' program has supported over 4,122 young individuals struggling with debt and isolation over the past three years. The initiative focuses on helping young people recover their credit and achieve financial independence.

The program offers a comprehensive three-stage solution: credit recovery, asset formation, and job linkage. Beyond financial aid, it includes personalized financial consulting aimed at improving participants' psychological well-being. One notable success story involved a young person overcoming gambling addiction, who managed to repay 10 million won in debt within three months with the help of a mentor.

Through the 'Didim Project,' a component of the Upbit Next Series, 936 young individuals received assistance. This includes financial consulting, living expenses support, and interest-free loans for those undergoing debt restructuring with the Credit Counseling & Recovery Service. Veteran consultants from financial institutions like the Bank of Korea provided 2,732 customized consulting sessions. A total of 1.15 billion won was disbursed as interest-free loans to 460 individuals needing emergency funds, with participants repaying an average of 75.8% of these loans.

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We will continue to provide support through the 'Upbit Next Series' so that more young people can escape the shackles of debt and return as healthy members of society.

Data analysis indicates positive changes in key indicators among recipients, including improved outlooks on future economic conditions, enhanced financial resilience, and better financial management skills. A Dunamu representative stated, "We will continue to provide support through the 'Upbit Next Series' so that more young people can escape the shackles of debt and return as healthy members of society."

Looking ahead, Dunamu plans to extend its support to middle-aged and older adults, aiming to assist approximately 2,100 individuals aged 19-59 with debt relief of up to 3 million won per person. This expansion follows a partnership agreement with the Credit Counseling & Recovery Service and the non-profit organization 'Together We Make the World.' Dunamu CEO Oh Kyeong-seok emphasized the goal of broadening the social safety net and building a healthy financial cycle beyond one-time economic support.

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Based on our know-how in helping young people achieve financial independence, we aim to expand our support to middle-aged and older adults who are in desperate need of assistance. By building a healthy financial virtuous cycle beyond simple one-time economic support, we will do our best to help financially vulnerable individuals stand tall again as proud members of our society.