Korea's financial regulator is expected to announce additional measures next week to tame runaway household debt that will focus on toughening requirements for the repayment capability of borrowers, sources said Wednesday.
More than 40 percent of people who took out mortgages in the first quarter have unsecured loans.
It's only going to get tougher for households to borrow from banks as the year wears on.
The Financial Services Commission (FSC) will tighten household lending through next year, FSC chairman Koh Seung-beom said on Tuesday during a meeting with heads of financial regulators. It will focus on loans from banks and private lenders ...
The Bank of Korea stressed the need to further raise the country's key interest rate to resolve worsening financial imbalances in its financial stability report published Friday.
Finance Minister Hong Nam-ki said Wednesday the government will explore additional measures to curb household debt, including tighter lending rules at non-banking institutions, if needed.
As controversy over the basic income promise escalated, 1976 Nobel Prize-winning economist Milton Friedman’s name was recalled. As the godfather of monetary policy, Friedman — famous for the axiom “money matters” — mentioned four...
One hundred million won ($86,000) is big money for ordinary citizens. Those who struggled to pay off any debt know it well. If you borrow 100 million won through mortgage loans with relatively low interest rates, you should repay...
National debt is expected to exceed 1,000 trillion won for the first time next year. With the government sticking to an expansionary fiscal policy and debt ballooning rapidly, people are likely to pay more in taxes.
Households will only be able to borrow as much money as their annual income as financial authorities try to curb the country’s growing household debt.