Lee Okwon: "Top 10 Lending Companies Will Cooperate with Bad Bank" [2025 Audit]

Lee Okwon, Chairman of the Financial Services Commission,
Addresses the National Assembly’s Political Affairs Committee Audit

Lee Okwon, Chairman of the Financial Services Commission, is taking an oath at the National Assembly's National Audit on the Financial Services Commission held by the Political Affairs Committee on the 20th. 2025.10.20 Photo by Kim Hyunmin

Major lending companies have reportedly expressed their willingness to cooperate with the "New Leap Fund (Bad Bank)," a long-term delinquent debt adjustment program initiated by the Lee Jaemyung administration.

Lee Okwon, Chairman of the Financial Services Commission, explained at the National Assembly's Political Affairs Committee audit of the Financial Services Commission on October 20, 2025, in response to a related question from Assemblyman Kim Sanghoon of the People Power Party, "When launching the New Leap Fund, we met with financial industry associations to discuss the matter, and also held talks with the lending industry association. They have agreed to cooperate as much as possible."

Immediately after its inauguration, the Lee Jaemyung administration announced a plan for the Bad Bank to purchase long-term delinquent bonds from low-credit borrowers and proceed with debt adjustment. Assemblyman Kim pointed out, "The purchase price ratio for non-performing loans in the lending industry is 29.9%, but the government is insisting that they resell them at 5%. I am not sure if any lending companies will agree to resell their bonds at such a low price as the government demands."

In response, Chairman Lee stated, "The top 10 lending companies account for 70% of the market share in the industry. These top 10 companies have expressed their intention to cooperate." He added, "We will provide incentives such as designating outstanding lenders to ensure smooth implementation in the market."

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