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Reporter : Lee Yeon-woo
Sat, September 30, 2023 | 22:19
Authorities blame internet-only banks' mortgage loans for high household debt
Financial authorities are closely watching internet-only banks, identifying their non-face-to-face mortgage loans as a contributing factor to the rapid surge in household debt. Authorities are investigating whether the loan screening procedures and management of default rates of such banks are appropriate.
Woori chief encourages affiliates after disappointing performance in H1
Woori Financial Group Chairman Yim Jong-yong is visiting the group's major affiliates to encourage employees in the wake of the group's disappointing performance during the first half of this year.
[INTERVIEW] Can Seoul stamp out real estate speculation?
For many Koreans, real estate represents more than a place to live. For decades, it has yielded remarkable returns for investors, fostering the belief that prices will continue to climb as long as others keep investing in property. By the end of 2021, real estate accounted for 64.4 percent of assets owned by Korean households.
Economic rebound unlikely this year: KERI
Korea's economy is unlikely to rebound this year given the worsening outlooks for exports and domestic demand, a think tank operated by the country's largest business lobby said.
Banking industry loses trust due to illicit activities of some employees
Amid a sharp drop in public trust sparked by the unethical behavior of some bank employees, DGB Daegu Bank is facing scrutiny for allegedly forging customer documents in order to open up accounts. Such impropriety has raised serious concerns about the industry's apparent lack of effective internal controls, further eroding trust in the banking industry.
KB workers accused of making $9 mil. in unfair profits using confidential information
KB Kookmin Bank employees and their acquaintances allegedly made 12 billion won ($9.6 million) in illicit profits by stock trading using confidential information, financial authorities said Wednesday.
Mortgage loans at banks hit record-high amid resurgence in home sales
Mortgage loans hit a new record high in July due to surging demand for housing finance as the local real estate market bounced back.
Financial firms ramp up safety measures to avoid bank runs
The financial industry is taking emergency measures to prevent potential bank runs, following a massive capital outflow at MG Community Credit Cooperative last month.
Housing loan defaults skyrocket among young borrowers
The default rate for housing loans among borrowers in their 20s and under has dramatically surged, hitting an all-time high. Particularly alarming is that one out of five borrowers aged 19, is in default, according to data released on Monday.
Hana to broaden global reach with State Bank of India
Hana Financial Group is set to broaden its global reach by joining forces with the State Bank of India, the biggest state-run commercial bank in India.
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