The Industrial Bank of Korea will implement additional loan regulations to manage household loans.
According to the financial sector on the 11th, the Industrial Bank of Korea decided to fundamentally prevent face-to-face and non-face-to-face jeonse loans (both in-person and non-personal) from being switched over from other banks starting on the 12th.
In addition, the automatic interest rate reduction for non-face-to-face jeonse loans (i-ONE fixed-rate jeonse loan) has been lowered by 0.20 percentage points. In reality, for financial consumers, it means the loan interest rates are rising by that much.
An official from the Industrial Bank of Korea noted, "Recently, there has been a trend of increasing household loans," adding, "To ensure stable management of household loans within the total limit, we are temporarily implementing additional regulatory measures."