S. Korea to Write off Bad Debt for 1.59 mln People

SEOUL, Nov. 29 (Korea Bizwire) — South Korea’s financial authority on Wednesday announced that it will forgive up to 6.2 trillion won (US$5.7 billion) worth of bad debt, in the latest measure to help hard-pressed people who cannot pay back their debts. The move, which will affect some 1.59 million debtors, is aimed at reducing [...]