PeopleFund, Q1 New Loans of 170.7 Billion KRW... 423% Increase YoY

[Asia Economy Reporter Song Seung-seop] PeopleFund announced on the 21st that its new loans in the first quarter increased by 423% compared to the same period last year, reaching 170.76 billion KRW.

Among the new loans, 75.37 billion KRW was allocated to the personal credit sector. Of this amount, 70.5% (53.15 billion KRW) went to medium-credit borrowers rated below grade 4 according to NICE Credit Rating standards. Notably, in the past month alone, a record high of 65.3 billion KRW in new loans was issued since the company's founding. The cumulative loan amount totaled 1.3829 trillion KRW, with an outstanding loan balance of 285.47 billion KRW. The delinquency rate remained stable at 1.2%.

PeopleFund cited its growth background as the linkage with loan comparison platforms and product competitiveness based on an artificial intelligence (AI) credit evaluation system. Participation by corporations and individual professional investors also expanded in the first quarter of this year. New investors in apartment mortgage bond investments increased by 255% compared to the previous quarter.

Kim Dae-yoon, CEO of PeopleFund, stated, “We will focus on securing additional top technical talent in the industry and advancing AI financial technology,” adding, “We also plan to expand the scope of financial services through projects such as the MyData business.”

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