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🇰🇷
Korea
Hankyoreh (KR)
National & Local
Do not repay illegal loans with interest rates exceeding 60% per year... Financial Supervisory Service issues 'invalidity confirmation letter'
The Financial Supervisory Service of South Korea has implemented a system to issue invalidity confirmation letters for loan contracts with interest rates exceeding 60%, to assist victims of illegal lending.
Mar 5 • 03:02 UTC
🇰🇷
Korea
Hankyoreh (KR)
National & Local
Preventing the collection of expired debts... Financial Supervisory Service begins field inspections on the lending industry
The Financial Supervisory Service of South Korea is initiating field inspections on lending companies to prevent the illegal extension of expired debts during debt collection processes.
Mar 3 • 05:55 UTC
🇰🇷
Korea
Hankyoreh (KR)
National & Local
30% of Applicants for Gyeonggi Extremely Low Credit Loans Used High-Interest or Illegal Money Lending
A significant portion of applicants for Gyeonggi's low credit loan program are struggling financially, with many having resorted to high-interest and illegal money lending.
Feb 20 • 01:41 UTC