SEOUL, Oct. 16 (Korea Bizwire) — Household lending in South Korea grew at its slowest pace in six months in September, new data showed Thursday, as tougher regulations and seasonal factors cooled borrowing amid renewed efforts to rein in housing prices and rising household debt. According to the Bank of Korea, household loans extended by banks [...]
SEOUL, Nov. 16 (Korea Bizwire) — Seven in 10 Koreans with mortgage loans saw their interest burden increase compared to last year amid a steep increase in interest rates, a poll showed Tuesday. According to a survey conducted by home matching platform Zigbang Co. of 948 users of its application, 41.4 percent of the respondents [...]
SEOUL, July 5 (Korea Bizwire) — South Korea’s major insurance companies are posing a challenge to commercial banks by releasing mortgage loans with a maturity of up to 40 years. Kyobo Life Insurance Co., which is already selling policy-type 40-year mortgage products for youth and newly-wedded couples, is set to launch sales of general-type products. [...]
SEOUL, Oct. 30 (Korea Bizwire) — Local banks are on alert as the government tightens the screw on mortgage loans that has contributed to their profits, financial industry insiders said Monday. The Moon Jae-in administration took a series of steps since taking office in May to tame real estate speculation. It placed nearly all major [...]