SEOUL, May 12 (Korea Bizwire) — Household debt growth in South Korea slowed, but corporate loans spiked by the largest amount in history amid the growing fallout from the new coronavirus outbreak, central bank data showed Tuesday. Fresh bank loans extended to local households came to 4.9 trillion won (US$4 billion) in April, according to [...]
SEOUL, Aug. 28 (Korea Bizwire) – Corporate lending extended by South Korea’s nonbank financial institutions surged nearly 17 percent in the first half of the year amid tougher rules for household loans, central bank data showed Monday. Outstanding corporate loans by local secondary financial institutions, including credit cooperatives and savings banks, came to 113.4 trillion [...]
SEOUL, Nov. 18 (Korea Bizwire) – The government will provide long-term loans to small- and medium-sized enterprises based on ethical performance of their owners and CEOs. It will also allow banks to take controlling stakes in companies by making long-term loans longer than three years. On November 16, the Financial Supervisory Service announced a plan to introduce a [...]
SEOUL, Sep. 15 (Korea Bizwire) – Commercial banks are offering increasingly lower loan rates to take corporate customers away from rivals, resulting in the state of “negative spread.” According to a survey, as much as 44 percent of large-scale corporate loans has been provided with negative spread, with the volume estimated to have reached 180 billion [...]