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Search results for Household debt

Finance

PG firms team up to block fraudulent payments, rate hike fallout in focus

South Korea\'s fintech sector is expanding payment infrastructure while strengthening security and user protection. The Financial Supervisory Service and the Korea Fintech Industry Association launched a consultative body with major payment gateway firms to curb suspicious transactions. The Bank of Korea raised its policy rate to 2.75 percent, the first hike in 3.5 years, prompting tighter household lending management. Authorities also plan higher deposits and trading units for single-stock leveraged ETFs.

Finance

BOK shifts to tightening as growth rebounds, leaves door open to more rate hikes

The Bank of Korea raised its policy rate to 2.75 percent from 2.50 percent, marking a shift toward tighter monetary policy. It cited cost pressures from oil and the currency, and demand-side inflation risks as AI investment and a semiconductor boom lift income and support consumption. The central bank also pointed to financial stability risks including housing prices, household debt and exchange-rate volatility, and did not rule out additional rate increases.

Finance

Jeonse loans should focus on vulnerable households; fees needed for large loans

Kim Iuck-hyun (김이억원), chairman of the Financial Services Commission, said he will reflect a range of views on property lending policy in measures to manage household debt and protect end-users. At a public forum in Seoul, experts urged differentiated rules, including limiting guaranteed jeonse loans to vulnerable households while expanding support for them. Others called for moving beyond uniform loan caps and imposing macroprudential fees on high-priced homes, multi-homeowners and large borrowers.