"This Is Why They Call It Deep-Rooted Corruption"... Lee Jae-myung's 'Anger' Over Reports of 'Credit Loan Pressure'

Gyeonggi Province Governor Lee Jae-myung criticized a media report on the "Gyeonggi Province-type Basic Loan," saying it was a "manipulated report used for political slander." The photo shows Governor Lee Jae-myung responding to a lawmaker's question during the National Assembly's Public Administration and Security Committee's audit of Gyeonggi Province. Photo by XXX

[Asia Economy Reporter Nahana] Lee Jae-myung, Governor of Gyeonggi Province, criticized a media outlet's reporting behavior that claimed he demanded commercial banks to create loan products that do not consider credit ratings.

On the 6th, Lee referred to a Chosun Biz article titled "[Exclusive] 'Create loan products that do not consider credit ratings'... Lee Jae-myung demands commercial banks" on his Facebook, stating, "This is why they are called corrupt media. Chosun Biz has once again engaged in fabricated reporting and political slander."

On the 5th, Chosun Biz published an exclusive article titled '[Exclusive] "Create loan products without credit rating consideration"... Lee Jae-myung demands from commercial banks.' Photo by Chosun Biz.

Chosun Biz reported on the 5th that "Lee Jae-myung, Governor of Gyeonggi Province, is pushing a 'basic loan' policy following basic income and basic housing, demanding commercial banks create related loan products."

Lee criticized, "Manipulating information and reports that confuse the judgment of the sovereign is a serious crime," adding, "I suspect Chosun Biz's intention to oppose basic finance by deliberately making false reports."

He further stated, "I have never made such a demand to banks, and the official letter from the Gyeonggi Credit Guarantee Foundation mentioned in the article was an inquiry to the banks about the feasibility. The difference between 'inquiry about feasibility' and 'demand to create' is something neither reporters nor editors would be unaware of, so this must be intentional fabricated reporting. It is complete fabrication."

He then said, "I am attaching the official letter sent by Gyeonggi Credit Guarantee Foundation to the banks. Please judge for yourselves whether it was a 'demand' as the Chosun Biz article claims or an 'inquiry'." and disclosed the letter.

Lee rebutted, "The official letter sent by the Gyeonggi Credit Guarantee Foundation to the banks in relation to the basic finance (loan) policy promoted by Gyeonggi Province inquired whether it is possible to create loan products that do not require credit consideration if Gyeonggi Province and the Foundation fully guarantee loan repayments."

He continued, "Gyeonggi Province's basic finance is a financial welfare policy and economic policy that provides small, long-term, low-interest loans within a range that does not cause moral hazard, allowing all citizens to share financial benefits derived from national currency issuance profits and ensuring proper functioning of monetary and financial policies."

On the same day, Gyeonggi Province explained, "The official letter sent by the Gyeonggi Credit Guarantee Foundation to commercial banks on February 22, 2021, was an inquiry about the feasibility of the Gyeonggi Province-type basic loan plan, and the article claiming that it demanded the creation of loan products is not true."

This content was produced with the assistance of AI translation services.