CBI and KCB forge partnership to expand financial access for migrant workers
Jakarta (ANTARA) - PT Credit Bureau Indonesia (CBI) has forged a strategic partnership with Korea Credit Bureau (KCB) to expand cross-border financial service access, particularly for migrant workers and the Indonesian diaspora in South Korea.
CBI President Director Anton K. Adiwibowo said in an official statement in Jakarta on Wednesday that the partnership is aligned with efforts to broaden financial inclusion for segments that have historically been underserved, including migrant workers.
The collaboration was marked by the signing of a memorandum of understanding (MoU) on credit information service cooperation, enabling Indonesian citizens in South Korea to utilise their credit history from CBI for various financial needs, such as bank loan applications, credit cards, remittances, and other financial services.
Conversely, Korean citizens residing in Indonesia will be able to use credit data from KCB to access financial services domestically.
"The utilisation of cross-border credit histories is expected to drive more inclusive, secure, and data-driven financial access," he said.
According to Korean Immigration Services 2025 data, there are more than 60,000 Indonesian citizens studying and working in South Korea, making Indonesia the sixth-largest foreign national group in the country.
Meanwhile, more than 26,000 Korean citizens are recorded as living in Indonesia. The absence of local credit history has been one of the main obstacles for diaspora communities in accessing financing services.
KCB Chief Executive Jongsup Hwang described the partnership as a strategic step towards building an integrated credit information network in Asia. He said access to reliable credit data plays a vital role in unlocking financial opportunities and supporting inclusive economic growth in the region.
CBI noted that the collaboration also addresses the growing demand from financial institutions for real-time cross-border credit information, in line with the strengthening of infrastructure and digital transformation of the financial sector across the region.
CBI President Director Anton K. Adiwibowo said in an official statement in Jakarta on Wednesday that the partnership is aligned with efforts to broaden financial inclusion for segments that have historically been underserved, including migrant workers.
The collaboration was marked by the signing of a memorandum of understanding (MoU) on credit information service cooperation, enabling Indonesian citizens in South Korea to utilise their credit history from CBI for various financial needs, such as bank loan applications, credit cards, remittances, and other financial services.
Conversely, Korean citizens residing in Indonesia will be able to use credit data from KCB to access financial services domestically.
"The utilisation of cross-border credit histories is expected to drive more inclusive, secure, and data-driven financial access," he said.
According to Korean Immigration Services 2025 data, there are more than 60,000 Indonesian citizens studying and working in South Korea, making Indonesia the sixth-largest foreign national group in the country.
Meanwhile, more than 26,000 Korean citizens are recorded as living in Indonesia. The absence of local credit history has been one of the main obstacles for diaspora communities in accessing financing services.
KCB Chief Executive Jongsup Hwang described the partnership as a strategic step towards building an integrated credit information network in Asia. He said access to reliable credit data plays a vital role in unlocking financial opportunities and supporting inclusive economic growth in the region.
CBI noted that the collaboration also addresses the growing demand from financial institutions for real-time cross-border credit information, in line with the strengthening of infrastructure and digital transformation of the financial sector across the region.