The Korean government will loosen lending requirements for landlords while extending financial support and tax breaks for exporters.
Internet-only banks are aggressively lending to borrowers with weak credit.
The toughest-yet loan regulations have gone into effect. The government is wielding what could be its last card to rein in runaway housing prices. But the universal strictness could dampen normal financial and real estate...
Starting January 2022, principal and interest payments on loans will be limited to 40 percent of income if total obligations exceed 200 million won. The rule will apply to debts of 100 million won or more from July 2022.
It's only going to get tougher for households to borrow from banks as the year wears on.
Starting July this year, the 40 percent DSR will be applied to mortgages for properties valued at 600 million won or above, down from the previous 900 million won.
A loan counter sits empty at a bank located in Seoul on Monday, the first day that government restrictions on unsecured loans went into effect.
Korea JoongAng Daily Sitemap