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Finance
Loan curbs keep volume caps but widen exemptions for housing supply funds
South Korea’s financial authorities are splitting real estate finance policy into household loan volume caps and support for housing supply. They plan to keep overall household loan management by financial firms, while exempting funds needed for housing supply, youth housing stability and end-user demand. August household loans rose 2.6 trillion won, down from July, but mortgage lending increased. Authorities will also ease some PF capital ratio rules for housing projects and expand supply-related funds.
Finance
KakaoBank launches auto finance comparison service to compare loans and installment plans from about 70 financial firms
KakaoBank is rolling out an auto finance service that allows customers to compare financing products and benefits needed when buying new or used cars. Users buying a used car can compare KakaoBank’s used-car purchase loan alongside auto loans, used-car installment plans and credit loans offered by about 70 partner financial firms. New-car buyers can input vehicle price, down payment and installment period to check cashback and installment terms by card issuer. KakaoBank plans to add more products and partners.
Finance
Small business sales up 4.5 percent but margins fall for second straight quarter; delinquencies rise
South Korean small business sales rose 4.53 percent in the second quarter from a year earlier, but profit margins fell for a second straight quarter as expenses increased faster, a report by Korea Credit Data showed. Average revenue per business was 47.11 million won, while average spending rose 5.83 percent to 35.22 million won. Delinquent amounts on sole proprietors’ loans rose 4.3 percent from the previous quarter to 15.2 trillion won.
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Finance
MyData market expands as Korea faces impact of consecutive base rate hikes
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Finance
South Korea\'s three internet-only banks keep mid-to-low credit loan share above 30 percent
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Finance
Toss, Woori Finance Savings Bank launch Soho Score loan for sole proprietors
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Finance
Finda preferred subprime-loan brokerage contracts top 100 billion won in 10 months
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Finance
Korean banks step up push for foreign customers with dedicated products and specialised networks
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Finance
South Korean banks\' won loan delinquency rate falls to 0.56 percent in June
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Finance
Eight Percent cumulative investments top 20 million, average annual return 10.3 percent
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Finance
July household loans rise 6.2 trillion won; growth slows for second month
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Finance
Loan \'open run\' pushes household loan cap to double, expanding banks\' lending room to around 60 trillion won
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Finance
KPL says 2 out of 3 refinancing customers see credit scores rise by average 35.4 points
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Finance
Fintech posts record results as payment touchpoints expand, signs of loan curb easing
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Finance
Hana Bank temporarily suspends new non-face-to-face mortgage lending
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Finance
Kakao finance posts record results as Bank and Pay expand into corporate, securities and insurance
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Finance
KakaoBank offers up to 0.5 point preferential rate to loan comparison customers
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Finance
IBK Industrial Bank of Korea launches 1 trillion won inclusive loan for mid-to-low credit borrowers