SEOUL, Sept. 26 (Korea Bizwire) – Small owner-operated businesses are facing a crisis after relying on loans to survive the pandemic. South Korean credit service provider NICE Information Service reported that loans for sole proprietorships exceeded 688 trillion won (US$480 billion) as of late June this year, which was 8 percent more than late last [...]
SEOUL, July 17 (Korea Bizwire) — The government and the ruling party on Sunday agreed to allow low-priced home owners to replace their floating rate-based borrowing with fixed ones as part of efforts to help ease their financial burden amid fast-rising borrowing costs. The decision was made at a policy consultation meeting between the government [...]
SEJONG, Feb. 6 (Korea Bizwire) – Student loans from the government rose nearly three-fold from 2010 to 2014 due to tuition increases, a private research institute said Friday. Outstanding government-funded student loans came to 10.7 trillion won (US$9.8 billion) as of the end of last year, 2.9 times higher than 3.7 trillion won in 2010, [...]