RRI.CO.ID, Jakarta - Credit bureaus from Indonesia and South Korea have forged a cross-border partnership to expand financial access, particularly for Indonesian migrant workers and diaspora communities.

PT Credit Bureau Indonesia (CBI) signed a memorandum of understanding with Korea Credit Bureau (KCB) to collaborate on credit information services, enabling Indonesians residing in South Korea to use their credit histories from Indonesia for financial needs, including bank loans, credit cards, remittances, and other services.

Under the agreement, South Koreans living in Indonesia will also be able to use their credit data from KCB to access financial products in Indonesia, addressing a long-standing barrier for expatriates and diaspora communities, who often lack a local credit record.

CBI president director Anton K. Adiwibowo said in a statement issued in Jakarta on Wednesday, February 18, 2026, that the partnership supports broader efforts to expand financial inclusion, particularly among underserved segments such as migrant workers.

“The use of cross-border credit histories is expected to promote more inclusive, secure, and data-driven financial access,” Anton said, as quoted by Antara.

Data from the Korean Immigration Service in 2025 show that more than 60,000 Indonesians are studying and working in South Korea, making Indonesians the sixth-largest foreign community in the country.

Meanwhile, more than 26,000 South Koreans reside in Indonesia. For many in these communities, the absence of a recognized local credit history has been a key obstacle to securing financing.

KCB Chief Executive Officer Jongsup Hwang described the partnership as a strategic step toward building a more integrated credit information network across Asia. Reliable access to credit data, he said, plays a crucial role in unlocking financial opportunities and supporting inclusive economic growth in the region.

CBI added that the collaboration also responds to growing demand from financial institutions for real-time cross-border credit information, as digital transformation and financial infrastructure continue to advance across the region. ***