High-credit office workers from 150 million to 100 million
Suhyup’Matong’ new loans stopped
Shinhan Bank lowers the limit for 4 products
Banks have been tightening credit loans for office workers this year. It is resuming measures to reduce the credit limit and stop the issuance of new negative bankbooks (limited loans) that were conducted at the end of last year. The interpretation of the financial sector is that banks are responding to the financial authorities’ policies to curb credit loans.
Kakao Bank announced on the 22nd that it would reduce the maximum limit for credit loan products for high-credit workers from 150 million won to 100 million won. Two types of application targets are office workers’ negative bankbooks and office workers’ credit loans. The new limit was applied starting at 6 am on the day. From the 17th of last month to the end of the year, Kakao Bank suspended a new’minus bankbook credit loan’ for high-credit workers. New issuance resumed on the 1st, but the limit was reduced again after three weeks of initiation.
Suhyup also discontinued new loans to negative bankbooks among Sh The Dream credit products from this day indefinitely. Sh The Dream Credit Loan is for office workers with an annual income of 30 million won or more and working for more than 6 months. An official at Suhyup Bank said, “We decided to stop applying for new loans because the limit on the operation of negative loans has been exhausted.” The timing of resumption of issuance of new negative bankbooks has not been set.
Since the 15th, Shinhan Bank has adjusted the limits of four credit products for office workers, such as’Eliteron I·II’ and’Convenient Office Worker Loans SⅠ·II’. The limit of Elitron was reduced from 200 million won to 150 million won, and the limit of convenient office worker loan S was reduced from 150 million won to 100 million won.
The financial sector is looking to tighten loans by banks from the pressure of the Financial Services Commission and the Financial Supervisory Service. The financial authorities have continuously taken measures to curb credit loans since September of last year, and they are inspecting credit loans over tens of millions of won every day. On the 14th, the Financial Supervisory Service held a video conference with Kakao Bank executives and five major banks including Shinhan National Hana Woori Nonghyup.
Financial authorities have suppressed banks’ credit loans in a variety of ways, and Kakao Bank made the expansion of medium-interest rate loans as the cause. Last year, the financial authorities strongly rebuked Kakao Bank for increasing credit loans to high-credit users like regular commercial banks and ignoring medium-interest loans. An official from the financial sector said, “Considering the government’s stance to block loans anyway, credit loans for high-credit people such as office workers will inevitably become increasingly difficult.”
Reporter Oh Hyunah/Jeong Soram [email protected]
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