K Bank Suspends Issuance of 'Matong' for High Credit Borrowers Until Year-End

[Asia Economy Reporter Kiho Sung] K-Bank will stop issuing new overdraft accounts to high-credit customers starting from the 6th.

On the 3rd, K-Bank announced that it will suspend new applications and increases for overdraft loan products targeting high-credit customers (KCB score above 820) until the end of the year. However, low- to mid-credit customers (KCB score 820 or below) can still apply for new accounts and increases without restrictions.

Earlier, on the 2nd of last month, K-Bank reduced the maximum overdraft loan limit from 150 million KRW to 100 million KRW, and starting from the 8th of the same month, applied a personal limit within 100% of annual income.

A K-Bank official stated, "While participating in the banking sector's policy to strengthen household debt management, we will actively implement measures to reduce interest burdens for low- to mid-credit customers and promote loans for actual demand such as jeonse loans."

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