SEOUL, March 24 (Korea Bizwire) — Major business groups in South Korea greatly expanded their bank loans this month, data showed Tuesday, amid a potential credit crunch caused by the new coronavirus outbreak that apparently limited their direct financing. As of March 20, outstanding loans extended by five major banks to large companies came to [...]
SEOUL, Sept. 26 (Korea Bizwire) — Accumulated peer-to-peer (P2P) loans in South Korea have surpassed 6 trillion won (US$5 billion), data showed Thursday. Outstanding P2P loans extended by 220 companies stood at 6.2 trillion won in June, compared with 4.7 trillion won at the end of last year, according to the data compiled by the [...]
NEW YORK, Jul. 17 (Korea Bizwire) — Madison Realty Capital has provided a $225 million construction loan on The Residences at Mandarin Oriental, Boca Raton, a planned 12-story, 580,000-square-foot luxury condominium tower in Boca Raton, Florida. The financing will allow owner/developer Penn-Florida Companies to complete the 12-story, 288,000 saleable-square-foot luxury condominium tower with an additional [...]
Paris, France and Cambridge, Massachusetts (USA), Mar. 4 (Korea Bizwire) – NANOBIOTIX (Euronext: NANO – ISIN: FR0011341205), a clinical-stage nanomedicine company pioneering new approaches to the treatment of cancer, today announced that the Company received €14 million through the second tranche disbursement of the non-dilutive loan from the European Investment Bank (EIB), which was originally [...]
SEJONG, Dec. 18 (Korea Bizwire) — More than half of middle-aged South Koreans are in debt, government data showed Tuesday, in the latest sign of growing household debt in Asia’s fourth-largest economy. The data compiled by Statistics Korea showed that 55.2 percent of people, aged between 40 and 64, borrowed money from banks or other [...]
SEOUL, Nov. 21 (Korea Bizwire) – The financial regulator said Wednesday it will allow financial institutions to use non-financial information for their credit evaluation of an individual who applies for a loan. Choi Jong-ku, chairman of the Financial Services Commission (FSC), made the remarks as the ruling Democratic Party and the government announced a set [...]
SEOUL, Oct. 3 (Korea Bizwire) – Accumulated peer-to-peer (P2P) loans in South Korea are estimated at over 4 trillion won (US$3.57 billion) as of the end of August, data showed on Wednesday. P2P lending refers to a new type of loan extended to individuals or businesses through social network services and the Internet, covering [...]
SEOUL, Sept. 28 (Korea Bizwire) — South Korea’s financial watchdog said Friday it will implement a stricter loan screening rule for insurance companies next week to help control risk from the country’s fast rising household debt. Local insurers will have to apply to the so-called debt service ratio to almost all household loans on a [...]
SEOUL, Jun, 28 (Korea Bizwire) — The Seoul Metropolitan Government will join hands with the Korea Student Aid Foundation (KSAF) to help youth currently in credit delinquency resulting from student loans, by offering funds totaling 160 million won. Those eligible for the bailout should be credit delinquents residing in Seoul or having graduated from a [...]
SEOUL, Jun. 19 (Korea Bizwire) — Loans taken out to finance facility expansions reached an all-time high in March, in line with a recovery in exports and the global economy, data showed Sunday. According to the data compiled by the Bank of Korea, facility loans reached a record 404.87 trillion won (US$356 billion) as of [...]