Search results for loan switching
Finance
Woori Financial steps up support for youth, middle-to-low credit borrowers with inclusive finance platform launch
Woori Financial Group is expanding financial support for young people and middle-to-low credit borrowers by increasing the supply of policy loans and rolling out new products. It reviewed inclusive finance results and future tasks at a May meeting in Seoul. Woori Bank supplied 218.6 billion won in Saehopeum Holssi loans in the first quarter and provided interest relief and waivers. The group plans to launch a loan-switching product and an inclusive finance platform, while widening regional microfinance support.
Finance
Fintech hot issue: Financial markets sway on high oil prices and weak won; refinancing loan war breaks out
Financial market jitters in South Korea are growing as the Middle East war drags on, pushing oil prices higher and strengthening the dollar. The won has risen above 1,500 per dollar, near the highest level in about 17 years, while foreign outflows add to volatility in the KOSPI. Separately, banks, internet-only lenders and fintech platforms are intensifying competition for sole proprietor refinancing loans as infrastructure opens up.
Finance
Toss Bank joins loan switching program for sole proprietors, launches two refinancing loans
Toss Bank said on Tuesday it has launched a refinancing service in line with the rollout of a loan switching programme for sole proprietors. The service allows sole proprietors with business loans at other financial institutions to move their loans to Toss Bank. The bank also launched two refinancing loan products, including one for professionals and another credit loan for sole proprietors, offering repayment options and no early repayment fee.
