Household lending across South Korea’s financial sector rose by 1.4 trillion won in January, reversing a month-earlier decline, while mortgage lending increased by 3 trillion won. President Lee Jae-myung raised fairness concerns over extending loan maturities for multi-homeowners, prompting regulators to launch inspections and form a joint task force. Authorities are also weighing broader application of debt service ratio rules and will announce this year’s household loan management targets after the Lunar New Year holiday.

Saemaeul Geumgo Central Federation said on Jan. 29 it has completed the opening of Our Neighborhood MG Galleries in five regions nationwide to expand infrastructure in areas underserved in culture and arts and to invigorate local exchange. The galleries were created at five local Saemaeul Geumgo branches, starting in September last year. The federation said the spaces will host exhibitions by well-known and local artists and serve as open cultural venues for residents.