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Nanobiotix Receives €14 Million Through the Second Tranche Disbursement of Financing from the European Investment Bank

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 [...]

Over Half of Middle-aged S. Koreans Are in Debt: Data

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 [...]

Non-financial Information to be Used for Credit Evaluation: Regulator

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 [...]

Accumulated P2P Lending Sharply Increases to Top 4 tln Won

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 [...]

Tougher Loan Screening in Store for Insurers

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 to Aid Youth with Unpaid Student Loans

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 [...]

Loans for Facility Investments Hit Record High

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 [...]

Gov’t Sets aside Special Loan for Ailing Tourism

SEOUL, April 25 (Korea Bizwire) – The government said Tuesday it plans to extend some 226 billion won (US$119.3 million) in loans to local tourism businesses hit by a sharp drop in Chinese visitors in the wake of Beijing’s hostile policy toward its neighbor. Tourism-related businesses here, such as travel and hospitality, are taking the [...]

Illegal Private Lending on Rise amid Economic Slump

SEOUL, Feb. 3 (Korea Bizwire) – A growing number of South Koreans are seeking help from the state financial watchdog for damages caused by loan sharks amid a prolonged economic slump, official data showed Friday. A total of 2,306 relevant cases were reported to the Financial Supervisory Service (FSS) last year, up 89 percent from [...]

SME Loans from Nonbank Lenders Soar amid Restructuring

SEOUL, Dec. 20 (Korea Bizwire) – A growing number of small and medium enterprises (SMEs) in South Korea are turning to high-interest loans from nonbank lenders as banks tighten their loan screening, data showed Tuesday. As of end-October, outstanding SME loans from nonbank financial institutions came to 76.6 trillion won (US$64.4 billion), up 31.2 percent [...]