SEOUL, Jan. 9 (Korea Bizwire) — A new survey reveals that one in three small business owners in Korea increased their borrowing in 2024, highlighting the ongoing financial challenges faced by the sector. According to a study released on January 8 by the Korea Federation of SMEs (KBIZ), 34.9% of small business owners who hold loans [...]
SEOUL, Oct. 6 (Korea Bizwire) — There is a difference between commercial banks’ average credit loan interest rates for professional workers and those for the general public, data showed Tuesday. According to the data that Rep. Kang Min-kuk of the main opposition People Power Party received from the Financial Supervisory Service, the loan interest rate [...]
SEOUL, July 4 (Korea Bizwire) – 8PERCENT, a P2P (peer-to-peer) lending company, revealed on July 4 that 30-something men who live in metropolitan areas are their primary investors. P2P lending refers to a system where lenders and borrowers make direct monetary exchanges with one another. A P2P lender evaluates the creditability of potential borrowers applying for [...]
SEOUL, Korea, Mar 28 (Korea Bizwire) – As it is getting harder to pay back mortgages, more households are feeling themselves as “house poor.”According to a report by the Korea Housing Institute, the number of Korean households which feel difficulty in repaying the debt from buying their houses, dubbed as “house poor,” was estimated to [...]