South Korea

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’ 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.

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.