Korea Joongang Daily
Korea JoongAng Daily

Insurance firms' lending down in Q1

Loans extended by insurance companies in Korea fell in the first quarter of the year amid high interest rates and tightened lending rules, data showed Monday.

2025-05-26

Delinquency rate on bank loans down in March

The delinquency rate on loans extended by local banks fell from a month earlier in March due mainly to an increase in the write-offs of soured loans, data showed Wednesday.

2025-05-21

Lack of homeownership is a barrier to child-rearing. Seoul city wants to break it down.

As government statistics show that a lack of home ownership induces reluctance to have children, the Seoul Metropolitan Government announced plans Thursday to cover housing expenses for couples who do not own their residence.

2025-05-15

Value of illicit IBK employee-facilitated loans balloons to $60M

The Fiancial Supervisory Service announced that it had uncovered an additional 64.2 billion won in employee-facilitated loans at the state-run Industrial Bank of Korea, bringing the total to 88.2 billion won.

2025-03-25

Home-backed loans up over 34% in February on rising housing demand

Home-backed loans extended by major Korean banks climbed more than 34 percent from a month earlier in February, indicating a possible rebound in the housing market, bank data showed Sunday.

2025-03-09

Hard times: Self-employed debt defaults surge in 2024

Pedestrians stroll through Myeong-dong in central Seoul on Feb. 16.

2025-02-16

Financial watchdog uncovers $266 million in improper loans at major banks

Korea’s financial watchdog uncovered more cases of improper loan provisions at the country’s major banks — Woori, KB Kookmin and NH Nonghyup — and pledged to implement stricter internal control rules.

2025-02-04

Delinquency rate on local bank loans increases in October

The delinquency rate on loans extended by local banks rose in October due mainly to a fall in the amount of soured loans written off by lenders, data showed Friday.

2024-12-13

Insurance firms' loans drop significantly on-year in Q3

Loans extended by insurance companies in Korea decreased sharply in the third quarter of the year from a year earlier amid high interest rates and tightened lending rules, data showed Friday.

2024-11-22

Woori temporarily suspends virtual services for mortgages, rent deposit loans

A service counter at Woori Bank's main office in Jung District, central Seoul, is empty on Tuesday.

2024-11-05