People's Happiness Fund

Prime Minister Chung Hong-won, third from left, applauds together with other dignitaries to congratulate the launch of People’s Happiness Fund, which will buy debts from heavily-indebted individuals and implement credit recovery programs for them, in front of its office in Yeoksam-dong, Seoul, Friday. From left are Choi Soo-hyun, governor of the Financial Supervisory Service; Shin Je-yoon, chairman of the Financial Services Commission; Chung; and Bahk Byong-won, chairman of Korea Federation of Banks. Bahk will serve as the inaugural head of the state fund. / Korea Times photo by Lee Ho-jae