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Finance

Korean banks\' loan delinquency rate rises to 0.67%; SME delinquency tops 1 percent

South Korean banks\' delinquency rate on won-denominated loans rose for a second straight month, driven by an increase in new delinquencies and a decline in the amount of delinquent loans written off or sold. The Financial Supervisory Service said the rate stood at 0.67% at end-May, up 0.06 percentage point from a month earlier. The delinquency rate on SME loans rose to 1.00%, while household loan delinquencies increased to 0.45%.

Finance

BOK shifts to tightening as growth rebounds, leaves door open to more rate hikes

The Bank of Korea raised its policy rate to 2.75 percent from 2.50 percent, marking a shift toward tighter monetary policy. It cited cost pressures from oil and the currency, and demand-side inflation risks as AI investment and a semiconductor boom lift income and support consumption. The central bank also pointed to financial stability risks including housing prices, household debt and exchange-rate volatility, and did not rule out additional rate increases.

Finance

Financial watchdog to revamp bank CEO renewal process, expand National Growth Fund to 200 trillion won

South Korea\'s Financial Services Commission plans to overhaul financial sector governance, including changes to the process for renewing chief executives to block long-term control built on friendly boards. It also plans to expand the National Growth Fund to 200 trillion won and pursue a full lifting of network separation rules to support productive finance and artificial intelligence transformation. The FSC also outlined steps on inclusive finance, regional policy finance and capital market reforms.