Bad Debt List Balloons Anew
The number of persons on creditors' blacklists is back up to the same level as before the government's large-scale credit amnesty, financial officials said Thursday. The Korea Federation of Banks' delinquents' list numbered 2.43 million persons at the end of May. The government amnesty deleted the names of 990,000 persons who had repaid their debts as of May 2.A Financial Supervisory Service official said part of the explanation is that persons who owe back taxes of 5 million won ($3,800) go on the list. That is half the earlier trigger amount. Seoul also decided in April that borrowers in arrears for three months, not six, go on the blacklist regardless of the amount they owe.
with the Korea JoongAng Daily
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