Search results for Korea Credit Information Services
Finance
Financial Services Commission launches structural reform drive for inclusive finance, overhauls credit scoring and debt adjustment
South Korea\'s financial authorities will pursue inclusive finance as a system-wide structural reform task rather than a one-off livelihood support measure. The Financial Services Commission said it will take a comprehensive look beyond expanding policy-backed finance for ordinary people, including credit assessment, incentives for financial companies and the debt adjustment system. The commission held an on-site debate in Seoul chaired by FSC Chairman Lee Eok-won (이억원). Participants discussed finance\'s public role and a more inclusive redesign of the financial industry.
Finance
Household loans jump 9.3 trillion won in a month as regulators trigger emergency management
Household loans across South Korea’s financial sector rose 9.3 trillion won in May, sharply above April’s increase and a year earlier. Mortgage lending growth slowed, but other loans, including credit loans, swung to an increase and drove the overall rise. Regulators held a debt monitoring meeting and plan weekly checks on firms that miss management targets. Banks will pursue voluntary measures such as cutting new credit loan limits for high earners.
Finance
Toss launches dormant deposit recovery service with SDFa
Viva Republica, operator of the Toss app, has launched a service that lets users check and reclaim dormant deposits scattered across multiple financial institutions in one place. Toss said on June 5 it rolled out the service with the Korea Inclusive Finance Agency. Users can apply remotely without submitting documents or visiting institutions, and approved amounts are paid immediately as Toss Pay Money. The service covers dormant deposits of 500,000 won or less.
