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Right now, we have no choice but to raise interest rates.

However, the government should step in and take care so that the interest burden on the common people does not increase too much.



So, the government has come up with a support plan focused on reducing the debt burden of those in need, and reporter Choi Won-woo will explain the details in detail.



<Reporter> A



financial integration support center for low-income earners who are struggling with high-interest loans or debt delinquency.



President Yoon Seok-yeol, who heard the complaints from the civil servants, presided over the emergency economic livelihood meeting.



We have focused on supporting the working class who are struggling with the steep rise in interest burden.

[President Seok-Yeol Yoon: An interest rate hike is an inevitable measure to curb inflation, but the burden should not be passed on to the



socially underprivileged.]



We decided to reduce our debt burden.



We purchase 30 trillion won worth of non-performing loans as a new start-up fund and support bold debt adjustments such as lowering interest rates or reducing principal.



Loans with high interest rates of 7% or more will be converted to low interest loans.



Regarding housing finance costs, we will supply 25 trillion won, an increase of 5 trillion won from this year's 20 trillion won, to the 'Safe Conversion Loan', which converts a variable rate mortgage loan into a fixed rate loan.



The limit for low-interest jeonse loans will be doubled to 400 million won, and the limit for supporting jeonse loans for youth will be increased from 120 million won to 180 million won.



A special youth debt adjustment system will also be established so that low-credit youth can receive interest reductions and repayment deferral.

[Kim Joo-hyun/Chairman of Financial Services: I think that if



we do not preemptively provide an opportunity to recover quickly, the cost that our society will have to bear later is much higher.]



We are planning to implement the measures prepared.



(Video coverage: Joo Beom and Lee Yong-han, Video editing: Kim Jin-won)