SEOUL: South Korea will unveil measures to curb household debt in a way that “strikes a balance” between toughening lending rules based on borrowers’ repayment capability and protecting those in actual need of loans for home rentals, according to the head of the country’s financial regulator.
The Financial Services Commission (FSC) is expected to announce a set of measures to tame soaring household debt this week, likely to focus on speeding up implementation of stricter rules on lending based on one’s income through the so-called the debt service ratio (DSR), Yonhap reported.
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