Financial Supervisory Service Conducts On-Site Inspection of 'Buksiheung Nonghyup' Over Mass Loans to LH Employees
Gyeonggi Gwangmyeong Korea Land and Housing Corporation (LH) Gwangmyeong Siheung Project Headquarters (Photo by Yonhap News)
View original image[Asia Economy Reporter Kwangho Lee] The Financial Supervisory Service (FSS) has launched an on-site inspection of Buk Siheung Nonghyup, where employees of Korea Land and Housing Corporation (LH) received land-secured loans.
Starting around 9 a.m. on the 18th, the FSS deployed an inspection team to Buk Siheung Nonghyup to thoroughly review the entire loan process.
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The FSS plans to focus on whether Buk Siheung Nonghyup complied with loan-to-value (LTV) ratios and collateral value assessment standards when issuing loans to LH employees, and whether there were any illegal or unsound business practices such as preferential loans.
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