The Financial Services Commission(FSC) held a task force meeting on Tuesday to devise support measures for low-income groups and self-employed people. 

The FSC task force comprises civilians and officials from banks and organizations providing small loans for people with low credit.

The participants at the meeting assessed that amid high interest rates and soaring prices, households are suffering from a decline in real income due to the economic downturn, while self-employed people are witnessing a drop in business.

Last year, nine-point-five percent of self-employed people went out of business, up zero-point-eight percentage points from a year ago, with the number of those people also rising by 111-thousand year-on-year to 911-thousand. 

FSC Standing Commissioner Lee Hyung-ju, who presided over the meeting, stressed the need to re-examine the overall policy to improve the repayment ability of low-income groups and self-employed people and to ensure that low-income finance organizations can function properly.

The task force plans to hold three or four more meetings to come up with support measures for people belonging to such vulnerable groups.