Ministry of the Interior and Safety Postpones Special Inspections of 30 Saemaeul Geumgo Branches

Market Stability Takes Priority

The Ministry of the Interior and Safety postponed the special inspection plan for 30 Saemaeul Geumgo branches with high delinquency rates on the 7th to stabilize market conditions.

An "Information Notice Regarding Deposit Protection" is posted at the MG Saemaeul Geumgo Gyeonghuigung Branch in Jongno-gu, Seoul.
[Photo by Yoon Dong-joo]

On the 4th, the Ministry of the Interior and Safety announced that due to growing concerns about the soundness of Saemaeul Geumgo, special inspections would be conducted on 30 branches with delinquency rates exceeding 10%, and special checks on 70 branches.

The special inspections for the 30 branches were scheduled to take place over five weeks from the 10th of this month to the 11th of next month, while the special checks for the 70 branches were planned for next month. The Ministry of the Interior and Safety, the Financial Supervisory Service, the Korea Deposit Insurance Corporation, and the National Saemaeul Geumgo Federation formed an inspection team of 30 people divided into five groups to monitor the weekly status of each branch’s delinquency rate as of the end of last month, delinquency reduction targets, and implementation status.

Earlier, the Ministry of the Interior and Safety also announced measures for customers who prematurely terminated Saemaeul Geumgo deposits between the 1st and 6th and apply for re-deposit by the 14th, including restoring the originally agreed interest rate and maintaining tax-exempt benefits.

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