| Mobile Web

Search results for refinancing loans

AI & Enterprise

Financial regulators issue consumer alert after series of personal data breaches

South Korea\'s financial authorities issued a consumer alert on Oct. 6 to prevent harm as personal data breaches at financial companies continue and consumer anxiety rises. The authorities said the alert will be raised immediately if damage is confirmed. They warned scammers could exploit the resumption of financial transactions after holidays, using leaked personal information to impersonate financial company staff, offer low-interest or refinancing loans, or lure victims with compensation claims.

Finance

MyData market expands as Korea faces impact of consecutive base rate hikes

Korea\'s financial MyData service is set to expand beyond individuals to sole proprietors and small merchants, evolving from simple data checks to executing financial tasks. The Financial Services Commission plans to broaden the right to request transmission of credit information and to introduce a \"My AI agent\". Separately, the Bank of Korea has raised its base rate for a second straight month, adding to upward pressure on loan rates and borrowers\' interest burdens.

Finance

South Korea\'s three internet-only banks keep mid-to-low credit loan share above 30 percent

South Korea\'s three internet-only banks kept the share of loans to mid-to-low credit borrowers in the 30 percent range in the second quarter, continuing inclusive finance. KakaoBank recorded 31.9 percent by outstanding balance and 38.4 percent by new lending, while K Bank posted 31.3 percent and Toss Bank 34.2 percent on a three-month average basis. The banks are widening access through upgraded scoring models, refinancing loans and use of alternative data.