[2021 National Assembly Audit] IBK Bank President: "No Suspension of Household Loans... Billions in Surplus Available"

[Image source=Yonhap News]

[Asia Economy Reporter Park Sun-mi] Yoon Jong-won, President of IBK Industrial Bank of Korea, stated that there will be no suspension of household loans at IBK despite the chain suspension of household loans by commercial banks.

At the National Assembly's Political Affairs Committee audit on the 15th, Park Yong-jin, a member of the Democratic Party of Korea, asked President Yoon, "IBK has also made considerable household loans, but is there a possibility that loans will be blocked due to total volume regulation?" In response, President Yoon said, "There is no possibility of suspension," and explained, "This year, after consulting with financial authorities, we set the household loan growth rate at about 7%. Although it has been lowered to the 6% range due to total volume regulation on household loans, there is still a capacity to provide several hundred billion won more in loans."

Park said, "As loans from commercial banks are blocked, many real demand borrowers are turning to second-tier financial institutions and loan sharks with high interest rates," and urged, "Since IBK, a policy financial institution, still has a lot of lending capacity, please also play a role in informing real demand borrowers so that they no longer suffer from high interest rates." President Yoon replied, "Regarding real demand such as jeonse loans, we will consult with financial authorities," and added, "We will do our best within the scope of what is possible."

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