Seoul Repeats Usury Policy

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Seoul Repeats Usury Policy

Deputy Prime Minister Jin Nyum said Thursday the government will ensure that credit card debtors who catch up on overdue payments will have their credit rating restored. He also reiterated that the government will crack down on usurious lenders and continue its support of the local stock market by investing more government pension funds.

"The National Tax Service, the Prosecutor's Office and the police will strengthen regulation on illegal collection of debts and high interest loans," Mr. Jin said in a speech at the National Defense University. He added that tax relief for long-term stock market investors is being planned.
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