[2021 National Audit] Ko Seung-beom "Household Loan Regulations Inevitable... Protecting Genuine Borrowers"

Q&A Session of the Financial Services Commission National Assembly Audit

[Image source=Yonhap News]

[Asia Economy Reporter Jin-ho Kim] Ko Seung-beom, Chairman of the Financial Services Commission, stated on the 6th, "Strengthening household debt management is necessary at this point in time, and if left unattended, the problem could worsen, so it is better to respond quickly."

Chairman Ko made this remark during the National Assembly's Political Affairs Committee audit, responding to a question from Jeon Jae-su, a member of the Democratic Party of Korea, who criticized the government's one-sided regulation on household loans.

Rep. Jeon pointed out, "Why are loans not being granted when I want to borrow against my collateral?" and added, "Complaints are growing mainly among real borrowers who genuinely need loans."

In response, Chairman Ko said, "The scale of household debt has increased significantly and the speed is fast, which is concerning," and emphasized, "Strengthening household debt management is necessary at this point."

However, Chairman Ko also mentioned that supplementary measures would be prepared considering concerns about harm to real borrowers. He explained, "In cases such as jeonse loans and group loans, there is a need to protect real borrowers, so we are reviewing and preparing supplementary measures taking this into account."

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