Search results for Korea Credit Information Services
Finance
One-stop update links name, ID number changes across financial firms
Financial consumers in South Korea who change their name or resident registration number will be able to update their personal information across other financial companies by visiting just one firm they use. The authorities plan to implement the system in the first half of 2027 after building related infrastructure. Under the plan, the Korea Credit Information Services will verify the change and share it with other firms the next day.
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.
