Chairman Kim Joo-hyun of the Financial Services Commission attended an MOU signing event held for financial industry groups and credit information companies with an aim to provide prompt credit recovery support for borrowers in payment delinquency on January 15. With this agreement in place, the financial industry associations and credit information companies will suspend the practice of sharing and making use of borrowers' past delinquent payment information for processing new loan applications and so on. Up to some 2.9 million individuals are expected to benefit from this credit recovery support as their delinquent payment history will be removed from the record. At the event, Chairman Kim said that it is necessary to give a second chance to those who fell victims to the unavoidable environmental circumstances, such as the effects of the coronavirus pandemic and continuation of high interest rates and high inflation. In this regard, Chairman Kim asked financial companies to promptly make such help available.