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Banks Seen to Continue Support for Virus-hit Smaller Firms

SEOUL, Aug. 18 (Korea Bizwire) — South Korea’s major banks are likely to continue to provide financial support for smaller firms and one-man operations to help them tide over the fallout from the coronavirus outbreak, industry sources said Tuesday. The country’s five key lenders — KB Kookmin, Shinha, Hana, Woori and NH Nonghyup — have [...]

Financial Authorities to Crack Down on Loan Sharks Next Year

SEOUL, Dec. 20 (Korea Bizwire) – Financial authorities will ramp up efforts to crack down on moneylenders targeting young people and seniors from next year. According to the Financial Services Commission (FSC), a special task force will be launched as part of a joint effort with the Ministry of the Interior and the Seoul Metropolitan Government [...]