Loan rates at commercial banks are starting to rise, which could further stress borrowers amid the lingering effects of Covid-19 on the domestic economy.
Banks have agreed to the government proposal to extend the suspension of loans and interest payments for small and mid-size companies and small corner shops for another six months.
Starting Jan. 18, small shops struggling due to heightened social distancing measures will be eligible for government-backed loans offered at commercial banks with interest rates a maximum 2 percentage points lower than currently available.
나날이 치솟는 주택 가격을 잡기 위해 정부는 다양한 종류의 규제를 내놓았으며, 각종 세금에 대한 부담도 커지고 있다. 부동산 관련 대책이 잇달아 발표되면서 다양한 관련 용어들이 사람들 입에 오르내리고 있다. 이와 관련된 영어 표현을 알아봤다.
Kakao Bank on Thursday announced a temporary halt in the opening of overdraft accounts as major banks limit individual credit lines due to concern about rapidly increasing household debt.
Korean depository institutions’ loans to self-employed people and companies grew at a much slower pace in the third quarter than three months earlier on improving business conditions, the central bank said Wednesday.
Household debt reached a record 1,682.1 trillion won ($1.51 trillion) in the third quarter despite the government's attempts to cool off the real estate market and borrowing to buy property.
With hopes for a vaccine giving the stock market a shot in the arm, a top government official offered a reality check, saying that benefits of the good news on the Covid front could take time to affect the real economy.
The Seoul Metropolitan Government, under acting leadership after the sudden death of former mayor Park Won-soon, must not proceed with the renovation work of Gwanghwamun Square against the wishes of civilians and experts alike....
Korean banks' household loans continued to grow at a fast pace in October, driven by home-backed lending amid soaring home prices, central bank data showed Wednesday.