Woori Bank Waives Overdue Interest for Jeonse Fraud Victims

Woori Bank announced on the 4th that it will waive the overdue interest on jeonse loans for victims of jeonse fraud for up to two years.

This overdue interest waiver is part of the support policy for victims of jeonse fraud under the "Special Act on Support for Jeonse Fraud Victims and Housing Stability." Overdue interest is a late payment penalty that borrowers bear when they fail to pay the principal and interest of a loan by the designated date. Since June 1, Woori Bank has decided to defer the registration of overdue information on jeonse loans for victims of jeonse fraud for two years.

The loans eligible for the overdue interest waiver are "jeonse loans" taken out by victims of jeonse fraud to cover the jeonse deposit. If the borrower visits a branch with the "Decision Document for Jeonse Fraud Victims, etc." issued by the Minister of Land, Infrastructure and Transport, they can apply for the overdue interest waiver. Borrowers who have already been registered as victims of jeonse fraud and whose overdue information registration on jeonse loans has been deferred will receive the overdue interest waiver without a separate application.

A Woori Bank official stated, "We are implementing the overdue interest waiver to help victims of jeonse fraud maintain normal financial transactions and housing stability," adding, "We will continue to establish various systems to ensure that victims of jeonse fraud do not suffer disadvantages in financial transactions."

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