Key Changes in the 2026 Saechulbal Fund Expansion
In 2026, the Korean government expanded the Saechulbal (New Start) Fund to KRW 30 trillion to resolve accumulated debt problems faced by self-employed individuals and SMEs since COVID-19. The scale is roughly triple the previous program, and eligibility now extends to businesses operating between April 2020 and December 2025.
Key changes include:
Eligibility and Qualifications
Applicants fall into two categories:
Credit score thresholds are NICE 744 or below or KCB 700 or below. Revenue decline must be documented via VAT returns and card sales records. Multi-creditor borrowers (loans from 3+ financial institutions) receive priority review.
SME corporations must have fewer than 5 employees or annual revenue under KRW 3 billion.
Application Procedure and Access Channels
Applications are accepted both online and offline:
Required documents include the business registration certificate, VAT taxable income proof, the past 3 months of card sales records, debt balance certificates, and the commercial lease contract. Review takes 45–60 days on average, followed by signing of the debt restructuring agreement.
Strategies by Restructuring Scenario
Optimal strategies vary by business situation:
Note that dual applications with guarantee-backed loans like Sunshine Loan are restricted, making prior consulting essential.
Credit Recovery and Refinancing After Restart
Credit recovery typically takes 2–5 years after restructuring. Credit scores recover gradually starting 6 months after agreement performance. Next-stage strategies are critical:
Consult with KITIM
The Saechulbal Fund delivers real impact only when combined with restart business planning and policy fund matching strategy. KITIM provides an end-to-end package: debt status diagnosis, restructuring application document preparation, restart business plan consulting, and policy fund matching. Request our free corporate diagnosis to receive a debt-restructuring and financing roadmap tailored to your business.