Song Young-gil, "Abolish Interest Rate Differences Based on Credit Ratings... Lower Loan Rates to Achieve 13 Million Won Reduction Per Person"

Announcement of 'Nuguna Sangga Guarantee System' Pledge on the 29th
"Expected to Reduce Rent and Interest Burden for Self-Employed"

[Asia Economy Reporter Oh Ju-yeon] Song Young-gil, former leader of the Democratic Party of Korea, who announced his candidacy for Seoul mayor in the June 1 local elections, unveiled his third pledge on the 29th: the 'Anyone Commercial Lease Guarantee System.' The core of this policy is to eliminate interest rate discrimination based on credit ratings and significantly ease loan interest rates for small business owners, providing an interest rate reduction effect of 13 million KRW per person.

Song Young-gil, the Democratic Party of Korea's candidate for the Seoul mayoral primary in the June 1 local elections, held a press conference on the 29th at the National Assembly Communication Hall to announce the policy pledge of the "Anyone Commercial Lease Guarantee System," which can reduce rent and interest burdens for self-employed people in Seoul. Photo by Yoon Dong-joo doso7@

On this day, former leader Song held a press conference at the National Assembly Communication Office to announce these details. The 'Anyone Commercial Lease Guarantee System' proposed by Song is a policy that allows tenants to use their deposit as collateral to obtain loans for rent and other expenses. It includes provisions to lend at an interest rate in the 3% range without differentiating based on credit ratings when borrowing lease deposits.

Former leader Song stated, "People with low credit ratings currently face interest rates of 6-13%, but under the Anyone Commercial Lease Guarantee System, loans will be provided at 3%, reducing rates by more than half." He added, "With this idea, money that has gone to secondary financial institutions can be returned to ordinary citizens." He emphasized that this could result in an interest saving effect of 13 million KRW per small business owner, totaling up to 10.5 trillion KRW.

Former leader Song said, "If I become mayor, I will swiftly implement policies to significantly lower rent and support low-interest loans for ordinary citizens." He continued, "Once the (Democratic Party's Seoul mayor) candidate is decided this afternoon, I will sequentially announce the remaining seven pledges out of ten. I will show how prepared content will transform Seoul."

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