South Korea
South Korean banks’ average mortgage rates hit three-year high: report
South Korean banks’ average mortgage rates hit three-year high: report
The 3.26% interest rate average is its highest since November 2018.
South Korean banks’ loan delinquency ratio up in August: report
The delinquency ratio has been on the decline since May 2018.
South Korea kicks off cash-back rewards program to boost card use
Card users can receive up to $85 in cashback rewards per month.
Chart of the Week: South Korea’s card payments market to reach $1.2t in 2025
Government incentives will support its continued growth.
Financial firms urge South Korean regulators to back off internal affairs
The firms represent the insurance, commercial banking, and brokerage sectors.
South Korean regulator nominee reject cryptocurrency as financial asset: report
Koh also reiterated his commitment to curb increases in household debt.
Citibank Korea postpones exit plan decisions until September —report
This marks the second delay in its exit plan decision.
South Korea card payments up 7% in July despite COVID resurgence
Online card payments are 28% higher than in July 2020.
Citi opens new office at Busan International Finance Center
It’s meant to further support its securities services operations in Busan.
South Korea’s Kakao Bank to raise over $2.2b in IPO
Shares were priced at the top end, at KRW39,000 ($34).
Mortgage loans drive up South Korean banks’ household loans in June
They also set a fresh record for half-year increase in household loan value.
South Korean banks to tighten fresh lending in Q3
Rising household credit risks and tougher lending rules put a damper on lenders’ plans.
South Korean incumbent banks’ profits at risk as Kakao Bank expand loan services
The internet-only bank plans to launch mortgages and merchant loan products.
Chart of the Week: South Korean card payments to grow 4.9% through 2024
Average frequency of use is 136.2 times in 2020, higher than in France, US, and UK.
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