Yeo "Please consider measures such as adjusting the interest rate hike" ... Meeting at the Korea Federation of Banks

Calling for 'Social Responsibility'... "Only Hypocritical Responses from Yoon Government Amid Perfect Storm Warnings"

Park Hong-geun, floor leader of the Democratic Party of Korea, is attending the party strategy meeting held at the National Assembly on the 14th and delivering opening remarks. Photo by Yoon Dong-joo doso7@

[Asia Economy Reporter Koo Chae-eun] On the 17th, the Democratic Party of Korea held a meeting with the Korea Federation of Banks and requested, "Please consider all financial support measures, including adjusting the extent of market interest rate hikes."

Park Hong-geun, the floor leader; Kim Seong-hwan, the chairman of the Policy Committee; and Song Ki-heon, the senior deputy chairman of the Policy Committee, held a 'Meeting on Stabilizing Loan Interest Rates for Ordinary People in Preparation for Soaring Interest Rates' at the Korea Federation of Banks in Jung-gu, Seoul, in the afternoon and made this announcement.

The meeting was also attended by Kim Kwang-soo, president of the Korea Federation of Banks. At the meeting with the Korea Federation of Banks, Floor Leader Park Hong-geun said, "Please consider all financial support measures such as adjusting the speed and extent of market interest rate hikes, extending loan repayment periods, and developing products for vulnerable groups," adding, "It is a matter of survival for both the banking sector and the entire Republic of Korea that the banking sector fulfills its social responsibility."

Floor Leader Park said, "I believe the banking sector will show inclusive finance by opening umbrellas wide when it rains," and criticized, "Experts warn of a 'perfect storm' comparable to a financial crisis, but the Yoon Seok-yeol administration and the ruling party are only responding superficially."

Kim Seong-hwan, chairman of the Policy Committee, said, "I hope we can actively develop financial products for ordinary people so that their burden does not increase further," and added, "If there are legislative matters or ways our party can help, we will actively cooperate."

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