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Two cooperative banks halt the issuing of new mortgages

Two more banks stopped issuing mortgages after the financial regulator began applying pressure on financial institutions to limit lending, and borrowers with poor credit could suffer the most.

2021-11-30

No damage for those in need

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...

2021-10-27

Credit crackdown continues as 40%-DSR rule imposed broadly

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.

2021-10-26

Some indebted Koreans are one rate hike away from trouble

More than 40 percent of people who took out mortgages in the first quarter have unsecured loans.

2021-10-19

Mortgage rates rise

A poster in front of a bank advertises loans. Mortgage loans are offered at an annual interest between 3.14 to 4.95 percent as of Monday, an increase from the 2.92 to 4.42 percent range offered at the end of August.

2021-10-18

Jeonse lending will not be stopped, FSC chairman promises

Legitimate borrowers with not be turned down for joense loans, according to Financial Services Commission Chairman Koh Seung-beom.

2021-10-14

Credit crunch gets real for households as banks hit limits early

It's only going to get tougher for households to borrow from banks as the year wears on.

2021-10-11

Loans to companies rise faster than to households

Loans to small and medium sized enterprises are on the rise as banks are forced to clamp down on household loans.

2021-10-07

Rising interest

People walk past loan advertisements displayed on the wall of a bank in Seoul.

2021-10-03

Last chance to loan

Borrowing money from banks has become difficult as the FSC has asked banks to tighten regulations to reduce household debt. Starting Wednesday, KB Kookmin Bank stopped issuing new mortgage credit insurance and mortgage credit guarantees.

2021-09-29

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