In unavoidable cases such as funerals and weddings, the credit limit is partially relaxed.
Rep. Kim Byung-wook, the ruling party secretary of the National Assembly's Political Affairs Committee, said, "After the 'household debt political affairs committee discussion' in the morning, "When managing the annual income limit on credit loans, we have temporarily allowed an exception for unavoidable financial needs such as funerals and weddings."
Rep. Kim said that the government had consulted with the government to prevent inconvenience to end-users such as suspending deposits and remaining loans in the process of managing household debt, and explained that this measure is one of the measures to protect end-users.
Rep. Kim also added, "We induced a sufficient supply of funds by excluding jeonse loans from the management of the total amount in the fourth quarter, and requested that they be effectively executed at the on-site counters of financial institutions."
Rep. Kim also emphasized, "We have reached a consensus on the need to prepare for household debt-related risks, such as the occurrence of insolvency, centered on the vulnerable in the event of changes in internal and external economic conditions due to interest rate hikes and the US tapering."
In addition, the Democratic Party has asked the government and financial authorities to continue to expand financial support for the low-income and vulnerable groups, such as inspection of resident business sites and next year's policy for low-income earners.
Rep. Kim said that there was no discussion today (25th) on how to lower the total debt and interest repayment ratio and DSR of the second financial sector to 40% like that of banks. said.
(Photo = National Assembly Photo Reporters, Yonhap News)