Loan Freeze Continues Next Year... Woori Bank Limits Loans for 'Prospective Doctors and Lawyers' Within Annual Income

[Asia Economy Reporter Jin-ho Kim] Next year, the loan freeze is expected to continue mainly for high-income and high-credit borrowers. In particular, so-called professionals such as doctors and lawyers are also expected to face a loan cliff.

According to the financial sector on the 29th, Woori Bank will lower the credit loan limit for professionals such as doctors and lawyers under the 'Woori Special Loan' to within 100% of annual income starting from the 3rd of next month.

Previously, even without income, loans were possible within a certain limit if one had a medical license or lawyer qualification, but this will be restricted going forward. Even if one has a license, loans will not be available without income.

Specifically, loans were provided for prospective doctors and prospective legal professionals for tuition and living expenses, but from next year, only tuition loans will be exceptionally allowed. However, income verification documents such as income certificates must be submitted, and loans will only be possible if it is confirmed that there is no income.

Meanwhile, financial authorities plan to keep the annual household loan growth rate of banks at around 4-5% next year. This is tighter than this year's target growth rate of 5-6%, and since jeonse loans will also be included in the growth rate next year, loans are expected to become more difficult. In addition, the Debt Service Ratio (DSR) regulations will be further strengthened.

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