| Mobile Web

Search results for credit assessment

Finance

FSC cuts rate requirements for mid-interest loans by up to 1.25 points, expands supply

South Korea’s Financial Services Commission is moving to revamp rules to expand lending to mid-credit borrowers as the economic slowdown increases pressure on vulnerable borrowers. It plans to adjust supply criteria for the policy-backed Saitdol loan, cut insurance rates and expand supply. Support for low-credit borrowers will be strengthened separately through policy microfinance, including a rate cut for Haetsal loans. The FSC also plans to lower rate benchmarks for private mid-interest loans by up to 1.25 percentage points.

Finance

Jeju Bank joins pilot AI-based credit scoring model for small merchants

Jeju Bank said on April 14 it will take part in a Financial Services Commission pilot programme for an AI-based credit scoring model tailored to small merchants. It said it is the only regional bank among seven participating lenders. The commission plans to complete rule changes and system development by August and begin SCB-based loan screening with pilot operators, with plans to expand participation across the financial sector.

Finance

Financial innovation and bespoke finance accelerate amid Middle East risk

Geopolitical risk from the Middle East is shaking monetary and financial policy, with the Bank of Korea holding its policy rate at 2.50 percent for a seventh straight meeting. Governor Rhee Chang-yong warned stagflation cannot be ruled out depending on developments. Financial authorities are expanding support by 26.8 trillion won and boosting contributions and small loans for vulnerable groups. Banks are testing new credit-scoring models for small merchants and firms are widening AI- and platform-based services.