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Low-Income Consumers' Economic Crisis and Financial Support System

  • Crisisonomy
  • Abbr : KRCEM
  • 2010, 6(1), pp.101-122
  • Publisher : Crisis and Emergency Management: Theory and Praxis
  • Research Area : Social Science > Public Policy > Public Policy in general

Kim,Sung Sook 1

1계명대학교

Candidate

ABSTRACT

The purposes of this study are to investigate the economic crisis status and problem of the low-income consumers and find out the reform measure of credit rehabilitation system and micro-finance system as the financial support system for them. As a result, the size of Korean low-income people continued to increase and they have had the difficulties of debt redemption. The Korean bankruptcy act of 2006 takes after, however, due to the underdeveloped private sector of debt counseling system and lack of priori debt reconciliation system and credit rehabilitation system, Korean credit rehabilitation system is less equipped for abuse prevention. Being effective financial support system for low-income consumers calls for I) the need to strengthen the private sector of debt counseling system, ⅱ) connecting the priori debt reconciliation system and credit rehabilitation system, ⅲ) making efforts to increase the accessibility of the low-income consumers to the financial support system , ⅳ) promoting the rights of the low-income consumers to choose the diverse financial support systems, ⅴ) practicing micro-finance system stable and long-termly as seed-money for self-support.

Citation status

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