Gov’t Plans to Cut Maximum Legal Lending Rate to 20 pct

SEOUL, Oct. 11 (Korea Bizwire) — The government plans to gradually cut the maximum interest rate that private lenders can charge to 20 percent per annum, the financial regulator said Thursday. In a parliamentary audit meeting, Financial Services Commission (FSC) Chairman Choi Jong-ku said the plan is aimed at further easing the financial burdens on [...]