The government has decided to significantly accelerate the expansion of the borrower unit (per individual) total debt-to-income ratio (DSR) regulation.
Deputy Prime Minister and Minister of Strategy and Finance Hong Nam-ki held a meeting of the Central Emergency Economy Countermeasures Headquarters today (26th) at the government complex in Seoul and discussed 'a plan to strengthen household debt management'.
He said, "I will manage the growth rate of household debt next year at a level of 4 to 5 percent, which is lower than this year. said.
Deputy Prime Minister Hong added, "In order to block the balloon effect of the second financial sector, we will also strengthen the DSR standards of the second financial sector."
Accordingly, from January next year, individual DSR limit regulations will be extended to borrowers whose total loan amount exceeds 200 million won.
Now, in the first stage, 40% of borrowers who have a loan secured by a house valued at 600 million won or more in a regulated area (speculation zone, over-speculation zone, adjustment target zone) or whose total credit loan exceeds 100 million won, receive 40% , for non-bank notes, a personal DSR limit of 60% is applied.
Deputy Prime Minister Hong said, "Jeonse loans will be recognized as an exception to the total amount regulation this year, and will be excluded from the DSR application as it is now when the DSR regulation is strengthened next year."
In addition, he said, "We plan to closely monitor all 110 housing complexes in the fourth quarter through the task force of related organizations so that there is no interruption in loan balance."