Frequently Asked Questions

Yes, that's correct. KPLUS is a specialized loan service dedicated to foreign nationals residing in South Korea

Our service is available in Mongolian, Cambodian, Nepali, Indonesian, Burmese, Thai, Sinhala, Uzbek, Vietnamese, Russian, and English, making it fast and convenient for foreign residents to use.

If you hold an E-9, E-7, F-2, F-4, F-5, or F-6 visa, reside in Korea, and are currently employed, you can apply regardless of your industry. All you need are the required documents and proof of at least one salary payment received since entering Korea.

Loan amounts range from 5 million KRW up to 50 million KRW. Interest rates range from 14.5% to 18.5% per annum, depending on your credit profile and evaluation results.

Yes, this is a fixed-rate loan. Your interest rate will stay the same throughout the entire loan term, keeping your monthly payments predictable and easy to manage without worrying about rising interest rates.

No. This is an unsecured personal loan, so no collateral or guarantor is required.

You can easily apply for a loan online without having to visit our office.

To apply for a loan, you will need your Alien Registration Card (ARC), passport, and standard employment contract. Applying with a passport alone is not allowed. Additional documents may be requested depending on your visa type and screening criteria. Your application will be reviewed based on the documents you submit.

In principle, applications must be completed online. However, we are happy to provide detailed explanations over the phone, so please feel free to contact us anytime.

Approval Time: Same day to 2–3 business days on average

If you have an existing loan, additional loans are generally not permitted. However, refinancing is available if your eligible credit limit exceeds your current loan balance and the refinancing is determined viable after considering associated costs. Furthermore, if you are making regular payments on your existing loan or have paid it off in full, you may apply for re-borrowing or an additional loan subject to evaluation. Approval and loan terms may vary depending on the evaluation criteria.

Yes, an early repayment fee applies to our loans. If you repay your loan within 3 years from the disbursement date, a 1% fee will be charged on the prepaid amount. After 3 years, the early repayment fee is waived. There are no additional hidden fees, and all costs will be clearly disclosed before you apply.

To check your credit score and loan eligibility, you will need your Residence Card (front and back), a copy of your passport, and a standard employment contract.

The platform fee is a one-time charge and is collected only once when the loan is disbursed.

Once the full loan amount is transferred to you, you will send the platform fee to us in a separate transaction.

Loan applications may be restricted or declined under the following circumstances: 1. Illegal Financial Activity: If financial transactions related to gambling, crime, or other illegal activities are identified. 2. Unpaid External Loans: If you have unpaid loans with another lender for 2 to 3 months or longer. 3. E-9 Visa Holders: If you have two or more voluntary job resignations recorded on an E-9 visa.

If you miss a loan repayment, late payment interest may apply, and your credit rating may be affected. One or two occasional late payments will not necessarily have a serious impact on your credit, but frequent or prolonged late payments may negatively affect your creditworthiness. If late payments continue, legal action may be taken. We strongly recommend making your repayments on time according to the agreed schedule.

If you are currently employed, you can apply for a loan as long as you have received at least one salary payment from your new employer. However, if you are currently in transition between jobs or looking for employment, loan applications are not available because your income cannot be verified. Please apply once you are employed and receiving regular salary payments.

If you lose or change your job while repaying your loan, you must still keep up with your scheduled payments. Your repayment obligation remains active regardless of changes in your income, so careful financial planning is essential during periods of unemployment. Additionally, if your application details change, such as changing employers or experiencing a change in income, you must notify customer support.

No. We keep your loan information 100% private. It will never be shared with third parties or your employer. All personal and financial data is strictly protected in accordance with privacy laws.

No, this loan does not directly impact your visa. However, long-term late payments can harm your credit score, which might indirectly affect future visa checks. To keep your visa process smooth, make sure to pay on time.

Yes, you can cancel your loan at any point during the application or approval process. However, please make sure to review your needs carefully before applying.

Yes, you can apply! Past late payments are okay as long as you do not have any active unpaid amounts right now.

Yes. As long as you have received your official visa application receipt (Jeopsujeong), you are eligible to apply.

Yes, you can leave the country while on leave. However, you must make sure your interest payments are made on time so your account does not go into default.

Even if your loan application was declined, you can reapply once the underlying reason is resolved or your circumstances change.

You can check your loan information through our customer support team. For details on your balance, interest rates, or repayment terms, please contact customer support for accurate assistance.