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Finance

Outsider loan fraud hidden as \'normal loans\' piles up, raising questions over banks\' defences

South Korean banks are strengthening internal controls to prevent financial incidents, but loan fraud involving outsiders continues to surface. Detecting fraud is difficult when loans remain current and are managed as normal credit, or when parties disguise transactions as legitimate. Hana Bank disclosed a 2.42 billion won incident tied to suspected fraud, while recent disclosures by Korea Development Bank and Industrial Bank of Korea were reported to involve the same counterparty.

Finance

Savings banks post 765.8 billion won net profit in first half, delinquency rate improves

South Korea\'s savings banks posted a cumulative net profit of 765.8 billion won in the first half of this year, extending profitability to a second straight quarter. Asset quality indicators improved as both the delinquency rate and the ratio of substandard loans fell from the previous quarter. Total assets rose to 120.6 trillion won at end-June, while deposits increased to 100.4 trillion won. The industry group forecast continued profitability in the second half.

Finance

Race to pre-empt won stablecoin as third financial hub nears

South Korea\'s financial authorities raised their target for household loan growth this year and NH Nonghyup Bank resumed variable-rate mortgage lending, drawing attention to whether mortgage hurdles will fall across the sector. COFIX rose for a fourth month, increasing borrowers\' interest burdens. Financial support for mid-to-low credit borrowers and small businesses is spreading, while the government and regulators advance plans tied to regional finance hubs and debate over a won stablecoin shifts toward payment, distribution and custody infrastructure.