Lee Eog-weon, Chairperson of the Financial Services Commission (FSC), said on the 23rd that he would consult with banks to find a solution to the issue of end-payment loan regulations for genuine demand borrowers.
The Chairperson said this at a national public debate on real estate policy held at the KBS annex in Yeouido, Seoul, in response to a participant's question that apartments allocated for the purpose of actual residence before the loan regulations took effect need exceptions for end-payment loans or transitional measures.
The Chairperson said, "As we regulate the total volume of loans, individual banks tend to tighten lending further," and added, "Since there are parts where (end-payment loans) can be handled as originally, we will consult with the banks."
President Lee Jae-myung also said on this point, "If people planned in line with the existing system but the policy changed, (and end-payment loans are not provided) absurd situations could occur," and added, "We need to review those caught at the regulatory boundary and minimize the damage."