Search results for vulnerable borrowers
Finance
Shinhan Financial to write off 500 billion won in delinquent debt, expand inclusive finance to 4.5 trillion won
Shinhan Financial Group plans an inclusive finance project worth 5 trillion won, including the write-off of 500 billion won in long-term delinquent debt to support vulnerable borrowers\' recovery. It will also expand inclusive financing for low-income people and small businesses to 4.5 trillion won by bringing forward next year\'s plan. Shinhan will restrict extensions of statutes of limitation on debt and broaden products and credit assessment models to support mid-to-low credit borrowers.
Finance
KOSPI enters pause as financial sector faces pressure for inclusive finance
South Korea’s stock market has surged on an AI semiconductor rally, pushing the KOSPI above 8,000 for the first time and lifting market value to sixth in the world, ahead of Taiwan. Brokerages posted strong first-quarter results as trading rose. Caution is also growing over volatility after the sharp run-up. Separately, “inclusive finance” has emerged as a key issue as banks and financial groups face pressure to expand support for vulnerable borrowers and strengthen public responsibility.
Finance
KakaoBank cuts New Hope and Sunshine Loan rates to mid-4 percent range
KakaoBank will cut interest rates on policy-backed loans for low-income and financially vulnerable borrowers to ease interest burdens. It said the cuts take effect on May 15 for its New Hope Loan II and Sunshine Loan products. New Hope rates fall by 0.30 percentage points and Sunshine Loan rates by 0.75 percentage points. KakaoBank plans to offer both at minimum rates in the mid-4 percent range.
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Finance
iM Bank unveils \'inter-Maum\' inclusive finance brand, vows to boost bank\'s public role
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Finance
FSC cuts rate requirements for mid-interest loans by up to 1.25 points, expands supply
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Finance
Kim Eun-kyoung says \'financial ladder loan\' to launch within 3 months
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Finance
KB Kookmin Bank launches KB Kookmin Do-yak Loan for refinancing non-bank lenders
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Finance
KB Kookmin Bank to write off 278.5 billion won in debt for financially vulnerable borrowers
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Finance
Semiconductors and value-up usher in 6,000 KOSPI era, risk management key task
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Finance
NH NongHyup Financial launches three inclusive finance products to close credit gap
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Finance
Recovery, 5,000 KOSPI feel distant as banks\' unpaid loans snowball amid polarisation
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Finance
Special debt discharge expansion for vulnerable borrowers raises bank burden, moral hazard debate
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Finance
Household loan bar rises as mortgage rates may break 7 percent