Press

Many artists unable to pass bank screening are pushed to high-interest lenders, with 48.6% of respondents reporting loans at annual rates of 15% or higher.

Debt pressure eventually breaks creative foundations. Among artists who experienced debt collection, 88.3% reported serious disruption or suspension of creative work.

Artists across visual art, music, photography, and dance joined to expand loan funds. The campaign grew rapidly by word of mouth and became one of the largest post-pandemic artist solidarity events.

Irregular income often lowers credit scores, making bank loans difficult to access. The article warns of a vicious cycle where high-interest borrowing makes re-entry to formal finance even harder.

Sustained relationship-based finance made bold progress possible. The report frames the KRW 700M milestone as evidence that artists are rebuilding financial sovereignty together.