Korea Joongang Daily
Korea JoongAng Daily

Extra 1.5% interest rate coming to Seoul household loans on July 1

Middle- and low-income households in Seoul may rush to buy homes before new DSR rules reduce loan limits and increase interest rates, but experts predict limited impact on housing prices.

2025-05-20

Nominee for FSC chairman maintains caution on crpyto accounts for corporations, loan-limit tightening

Kim Byoung-hwan, a former vice finance minister, said investor protection in digital assets and consideration for households looking for loans are paramount in policy decisions.

2024-07-22

Household loan limit scheme delayed by two months

The Financial Services Commission has announced a two-month delay to the next phase of the stressed debt service ratio limiting consumer loans.

2024-06-28

Government to loosen lending rules, support exporters

The Korean government will loosen lending requirements for landlords while extending financial support and tax breaks for exporters.

2023-07-04

Internet-only banks rapidly extend loans to less creditworthy

Internet-only banks are aggressively lending to borrowers with weak credit.

2022-04-07

No damage for those in need

The toughest-yet loan regulations have gone into effect. The government is wielding what could be its last card to rein in runaway housing prices. But the universal strictness could dampen normal financial and real estate...

2021-10-27

Credit crackdown continues as 40%-DSR rule imposed broadly

Starting January 2022, principal and interest payments on loans will be limited to 40 percent of income if total obligations exceed 200 million won. The rule will apply to debts of 100 million won or more from July 2022.

2021-10-26

Credit crunch gets real for households as banks hit limits early

It's only going to get tougher for households to borrow from banks as the year wears on.

2021-10-11

Loan rules tightened while 40-year mortgage idea floated

Starting July this year, the 40 percent DSR will be applied to mortgages for properties valued at 600 million won or above, down from the previous 900 million won.

2021-04-29

All alone

A loan counter sits empty at a bank located in Seoul on Monday, the first day that government restrictions on unsecured loans went into effect.

2020-11-30