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Finance

Household loan cap raised to 3 percent; scraping to be phased down

South Korea’s financial authorities loosened parts of their household loan management stance by raising this year’s lending growth target to 3 percent from 1.5 percent and planning 47.8 trillion won-plus in housing supply finance support. The move is expected to expand banks’ annual capacity for household loans to around 60 trillion won. Authorities also agreed not to block scraping all at once, opting to phase it down while preparing alternatives such as public MyData.

Finance

Leveraged ETF overheating and SpaceX row put investment industry on edge

South Korea\'s financial investment industry is on edge as regulators widen investor-protection checks amid rapid growth in exchange-traded funds. The Financial Supervisory Service is examining single-stock leveraged ETFs and SpaceX-related ETFs, including investor-protection procedures by asset managers and brokerages. Products marketed on promised inclusion of SpaceX IPO shares, index-calculation compliance and liquidity provider management are under review. Separate volatility and price-distortion episodes in ETFs have also raised concerns.

Finance

Lee Chan-jin says single-stock leveraged ETFs only fatten brokerages

Lee Chan-jin (이찬진), head of South Korea\'s Financial Supervisory Service, voiced strong concern over overheating in single-stock leveraged exchange-traded funds tied to Samsung Electronics and SK Hynix. He said extreme turnover concentrates gains on brokerages and other intermediaries rather than individual investors, and said the watchdog is considering additional investor safety measures. Lee also criticised a failed SpaceX IPO allocation at Mirae Asset Securities and said inspections of related asset managers will be expanded.