South Korea’s financial authorities loosened parts of their household loan management stance by raising this year’s lending growth target to 3 percent from 1.5 percent and planning 47.8 trillion won-plus in housing supply finance support. The move is expected to expand banks’ annual capacity for household loans to around 60 trillion won. Authorities also agreed not to block scraping all at once, opting to phase it down while preparing alternatives such as public MyData.

South Korea\'s financial authorities discussed a plan to implement limits on scraping in phases after preparing alternatives such as public MyData, aiming to reduce inconvenience for financial consumers caused by blocking by administrative bodies and the Supreme Court. The Financial Services Commission held a financial sector inspection meeting on scraping restrictions and reviewed expected impacts and response measures. Participants backed the purpose of blocking while calling for sufficient alternatives and a preparation period, and also reviewed security and internal controls used in current scraping processes.