President Yoon Seok-yeol said, "Rising interest rates is an inevitable measure to curb inflation, but that burden should not be passed on to the socially disadvantaged."



President Yoon said at the 2nd emergency economic livelihood meeting presided over at the Central Financial Integration Support Center in Jung-gu, Seoul on the morning of the 14th, saying, "In a situation where the base rate is raised to curb inflation around the world, the debt burden of the vulnerable is increasing. It is increasing,” he said.



"The government will make full use of financial resources to actively come up with countermeasures," he said.



As the Bank of Korea raised the so-called 'big step', a 0.50 percentage point increase in the base interest rate for the first time in history yesterday, there is a concern that the steep increase in interest burden will cause a major blow to the financially vulnerable. It is interpreted as sending



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President Yoon said, "For financial debts of small business owners and self-employed people who are having difficulty repaying, the Korea Asset Management Corporation (Kamco) will purchase the loan bonds and reduce the burden of repayment through extension of maturity and reduction of interest rates."



He continued, "For high-interest borrowers, we will convert loans to low-interest rates through guarantees from the Credit Guarantee Fund to lower the interest rate burden."



In the case of mortgage lenders, he said, "We will implement a safe conversion loan system as soon as possible to lower the loan interest rate and relieve the burden of rising interest rates through the conversion of long-term fixed rate loans."



Regarding the burden of the youth, he emphasized, "It is necessary to establish a preferential program for youth such as preemptive interest reduction and deferral of principal repayment before delinquency occurs, and to reduce the repayment burden through the youth safe conversion loan."



President Yoon said, "The self-employed and small business owners who have no choice but to increase their loans due to the corona virus, the common people who bought a house with a 'young' loan to buy their own house with an anxious mind about the soaring real estate prices, All the young people who invested are having difficulties repaying the principal and interest,” he said.



“If the economy of the common people collapses, the basics of the national economy will collapse,” he said.



Today's meeting was attended by Choo Kyung-ho, Deputy Prime Minister of Economy and Finance, Minister of Strategy and Finance, Kim Joo-hyeon, Chairman of the Financial Services Commission, Choi Sang-mok, Chief Economic Officer of the Presidential Office, Lee Bok-hyeon, Director of the Financial Supervisory Service, Lee Jae-yeon, President of the Commonwealth Financial Promotion Agency, Choi Jun-woo, president of Korea Housing Finance Corporation, Kwon Nam-joo, president of Korea Asset Management Corporation. I did.



Prior to today's meeting, President Yoon visited the window of the Financial Integration Support Center for the common people and listened to the difficulties of debt repayment from the citizens who came to consult.



(Photo=Presidential Office Correspondent Photo Reporters, Yonhap News)