President Lee Targets Predatory Finance, Rebukes Private NPL Firm Case

President Lee Jae-myung on the 12th publicly rebuked the case of a “private non-performing loan processing company” created by the financial sector. Lee said he “did not know such primitive predatory finance was still openly surviving and tightening its grip on ordinary people,” pointing to a policy blind spot in the financial field. The remarks show concern that the structure for handling bad loans is connected to the financial burden on ordinary citizens. Calls for closer review of related systems and financial-sector practices are expected to grow. Source: cited from mk.co.kr