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Finance

Finda says mid-to-low credit borrowers prefer policy loans for unsecured and secured lending

Finda said loan preferences among mid-to-low credit borrowers are clearly split by credit score range. Based on an analysis of first-quarter data over the past three years, users with credit scores in the 400 to 800 range mainly used unsecured and secured loans and policy finance products such as Haetsal Loan, it said on Wednesday. By contracted amount, unsecured loans, auto-secured loans and policy products accounted for a large share across the range.

Finance

Inclusive finance pressure mounts, raising tensions in South Korean banks

Pressure from the government to expand inclusive finance is spreading across the financial sector, deepening banks’ 고민. Financial firms agreed to sell bonds held by a private bad bank after President Lee Jae-myung criticised long-term debt collection. Regulators plan to expand policy lending for lower-credit borrowers and launch an inclusive finance task force. Banks warn expanded lending could raise delinquency risks, increase provisions and add to losses tied to policy finance programmes.