The government held a second meeting on emergency economic measures on Thursday and laid out plans to alleviate the debt burden of the disenfranchised by reducing the amount of debt rather than by deferring payment.

According to the Financial Services Commission, the new focus will be on debt restructuring to effectively reduce the debt burden so business owners and the public can focus on restoring their credit level.
 
This policy shift will take effect from October as the current financial relief plan that allowed borrowers to defer debt repayments will end in September.

Under the new plan, debt restructuring efforts will reduce the original principal by as much as 90 percent, and loans with high annual interest rates of over seven percent will be converted to long-term low-interest loans.

On the housing front, people who have taken on liabilities to purchase a home will see reduced interest on their loans while ample financial support will be provided to prospective home buyers, including those looking for "jeonse" rental contracts.