Financial sector's 'Win-Win Finance Index' to be piloted

South Korea's Council for Win-Win Growth is set to implement a pilot evaluation for a "Win-Win Finance Index" starting in the second half of this year. This initiative aims to measure and encourage financial institutions' support for small and medium-sized enterprises (SMEs) and small business owners.

The decision was made during the 88th Council for Win-Win Growth meeting on June 16th. The council will collaborate with the Financial Services Commission and the Financial Supervisory Service to conduct the pilot assessment. The framework for the "Win-Win Finance Index" is established under the revised Fair Cooperation Law, which was enacted in November of the previous year.

This index is designed to provide a standardized method for evaluating how effectively financial companies are contributing to the growth and stability of smaller businesses. By creating a measurable benchmark, the initiative seeks to foster a more supportive financial ecosystem for SMEs and small business owners, aligning with the principles of fair cooperation and mutual growth.