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Loans, Default Rate Both Increase for Self-employed in 2018

Loans, Default Rate Both Increase for Self-employed in 2018

SEOUL, Apr. 1 (Korea Bizwire) — Loans and the loan default rate both rose for the self-employed last year, the regulator’s data showed Monday. The loans extended to the self-employed totaled 389.8 trillion won (US$342.83 billion) at the end of the third quarter last year, up 13.9 percent from the same period of the previous [...]

Number of College Graduates Defaulting on Student Loans up 8 Times in 3 Years

Number of College Graduates Defaulting on Student Loans up 8 Times in 3 Years

SEJONG, Oct. 31 (Korea Bizwire) – The number of college graduates who failed to pay back their student loans jumped nearly eight times in three years, data showed Monday, in the latest sign of financial trouble for young South Korean workers.  Under the student loan program that began 2010, college graduates are required to pay [...]