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Finance

Korean banks\' loan delinquency rate rises for second straight month; SME corporate at 1.10 percent

Korean banks’ delinquency rate on won-denominated loans rose to 0.69 percent at end-August, extending gains for a second month, data from the Financial Supervisory Service showed. Delinquencies on loans to small and medium enterprises reached 1.00 percent, with SME corporates at 1.10 percent. The watchdog said overall delinquency remains below the long-term average, but warned vulnerable areas such as SMEs and individual business owners could see further increases.

Finance

Financial sector hacking spreads, delays gain support for digital asset tax postponement

A string of hacking incidents in South Korea’s financial sector has led to confirmed personal data leaks at savings banks and mutual finance groups, prompting authorities to step up inspections and security requirements. Banks are moving to raise cybersecurity spending and expand fraud prevention systems using AI. Market volatility and a steep stock selloff also drew a policy response. Political debate intensified over postponing digital asset taxation and regulating exchange shareholders.

Finance

September household loans fall 2.2 trillion won, first net drop this year

Household loans across South Korea’s financial sector fell 2.2 trillion won in September from a month earlier, the first net decline this year, as other loans including credit loans dropped sharply while mortgage loan growth slowed. The Financial Services Commission said mortgage loans still rose 3.3 trillion won, and authorities will maintain a household debt management stance through year-end. Measures also include changes to Bogeumjari Loan income rules and expanded youth jeonse loan guarantees.