Key Highlights
- Cryptocurrency balances now included in debt relief asset evaluations.
- Applicants must provide certified statements of exchange-held digital assets.
- Relief amounts adjusted based on individual repayment capability.
- KAMCO implements ongoing surveillance for fraudulent asset disclosures.
- Enhanced verification covers digital currencies, private equity, and asset movements.
South Korean authorities have expanded asset evaluation criteria for public debt relief programs to encompass cryptocurrency holdings. The updated New Start Fund framework enhances verification protocols and calibrates debt forgiveness levels according to borrowers’ financial capacity. Officials have simultaneously introduced enhanced…