Finance
President Lee slams \'predatory finance\' as banks move to offload Evergreen overdue debt
President Lee Jae-myung criticised the collection of long-overdue debt by private bad-loan processor Sangnoksu as “primitive predatory finance,” prompting financial firms to announce plans to sell the debt. Shareholder financial companies decided to sell long-delinquent receivables they hold to the Korea Asset Management Corp’s Saedo-yak fund. Shinhan Card announced a sale plan, while IBK Industrial Bank of Korea and KB Kookmin Bank also said they would proceed.
