Household lending across South Korea’s financial sector rose by 1.4 trillion won in January, reversing a month-earlier decline, while mortgage lending increased by 3 trillion won. President Lee Jae-myung raised fairness concerns over extending loan maturities for multi-homeowners, prompting regulators to launch inspections and form a joint task force. Authorities are also weighing broader application of debt service ratio rules and will announce this year’s household loan management targets after the Lunar New Year holiday.

Toss Bank said on Wednesday it has launched a new loan for self-employed business owners who run businesses based on professional licences and qualifications. Eligible borrowers include nine professions such as doctors, dentists, pharmacists, lawyers and accountants. The bank introduced automated, non-face-to-face verification of licence information and streamlined screening. Loans can be applied for and disbursed entirely online without collateral, with added checks for certain larger loans.