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Finance

KB Kookmin Bank to cut credit loan limits, tighten household lending management

KB Kookmin Bank will temporarily adjust credit loan limits in response to rising household lending. The bank will lower the caps on general credit loans and overdraft accounts to manage household debt more steadily. The measures take effect on June 16. The maximum limit for general credit loans will be 100 million won, while overdraft account limits will be capped at 50 million won. Some products may follow separate standards.

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

South Korea household debt hits record high near 2,000 trillion won; Q4 loans up 11.1 trillion won

South Korea\'s household credit balance reached a record 1,978.8 trillion won at end-December, up 14.0 trillion won from end-September, the Bank of Korea said on Thursday. Household credit has risen for seven straight quarters, though the quarterly increase narrowed. Excluding sales credit, household loans rose 11.1 trillion won in the fourth quarter. Mortgage lending grew 7.3 trillion won and other loans rose 3.8 trillion won, with stock investment demand cited.