Default rate investigation
![The Ministry of Interior and Safety announced it will conduct a joint investigation into 30 MG Community Credit Cooperatives branches which have a default rate exceeding 10 percent, and said these branches may be shut down or merged if necessary. The financial firm's total loan amount stood at 196.8 trillion won ($151 billion) with 12.2 trillion won, or 6.18 percent, overdue, as of Thursday. [YONHAP]](https://koreajoongangdaily.joins.com/data/photo/2023/07/04/a66abd46-55ac-4bdf-a828-da42336ce928.jpg)
The Ministry of Interior and Safety announced it will conduct a joint investigation into 30 MG Community Credit Cooperatives branches which have a default rate exceeding 10 percent, and said these branches may be shut down or merged if necessary. The financial firm's total loan amount stood at 196.8 trillion won ($151 billion) with 12.2 trillion won, or 6.18 percent, overdue, as of Thursday. [YONHAP]
with the Korea JoongAng Daily
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