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Finance

Post offices and internet banks to step up joint loans to fill regional finance gaps

Post offices and internet banks in South Korea are moving to fill gaps left by shrinking bank branches, expanding access to loans for older people and local small merchants through nearby counters and mobile apps. The Financial Services Commission announced measures including a post office bank agency pilot, joint loans between regional banks and internet banks, and local government-linked mutual aid insurance. The plan also includes preferential loan terms and support to launch joint-loan products by 2027.

Finance

Bank household loans rise 7.6 trillion won as mortgage growth accelerates

Household loans across South Korea\'s financial sector rose 8.3 trillion won in June, the Financial Services Commission said on Wednesday. The increase was smaller than the previous month but larger than a year earlier. Mortgage loans rose 4.5 trillion won, with bank mortgage growth widening while second-tier lenders slowed. Bank household loans rose 7.6 trillion won. Other loans increased 3.7 trillion won, with credit loan growth easing.

Finance

South Korea stocks swing wildly as network separation rules ease

South Korean stocks remain highly volatile, with circuit breakers and sidecars triggered in turns as the won slides and authorities issue verbal warnings on speculative trading. Investors are watching the U.S. Federal Open Market Committee for signals on the rate path and currency moves. Interest in SpaceX’s listing is strong, though some Korean firms received no allocation. Household loans are rising again, prompting tighter controls, while AI adoption spreads across finance alongside growing security concerns.