Arab Today, arab today restructuring fund for heavy debtors to set sail in south korea
Last Updated : GMT 12:20:08
Arab Today, arab today
Arab Today, arab today

Restructuring fund for heavy debtors to set sail in south Korea

Arab Today, arab today

Arab Today, arab today Restructuring fund for heavy debtors to set sail in south Korea

Seoul - Yonhap

The South Korean government unveiled Monday detailed plans of a rescheduling fund for heavy debtors, one of President Park Geun-hye\'s key presidential campaign pledges. The Financial Services Commission (FSC), the country\'s top financial regulator, said the public fund aimed to ease the debt burdens of the heavily-indebted persons will be launched on Friday with an initial size of 1.5 trillion won (US$1.34 billion), to be run for the next five years. The government had initially proposed a fund worth 18 trillion won, but it now plans to increase the amount gradually through the course of running the fund, according to the FSC. The fund will buy overdue debts held by local banks and other non-bank institutions that are worth less than a combined 100 million won and at least more than six months in delinquency with their principal repayment. The FSC estimated the number of eligible applicants to benefit from the fund is around 324,000. The FSC said the fund will need initial seed money worth 800 billion won to purchase such overdue debts. The government has currently secured 500 billion won, with the rest to be raised through bond sales, it added. The fund will spend the remaining 700 billion won out of the 1.5 trillion won in converting overdue debts into those with longer maturities and lower interest rates, the FSC said. The fund\'s debut came as President Park vowed during her presidential campaign last year to ease financial burdens among the lower-income group struggling with high indebtedness. South Korea\'s high household debt is feared to spawn massive defaults since the local economy is slowing down amid a low-growth trend. The country\'s household debt has reached a record 959.4 trillion won as of end-2012, as central bank data showed. Such concerns have prompted policymakers here to come up with measures to stave off financial instability stemming from individual borrowers.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today restructuring fund for heavy debtors to set sail in south korea Arab Today, arab today restructuring fund for heavy debtors to set sail in south korea

 



Arab Today, arab today
Arab Today, arab today Prepares to present her new collection

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today 11 family members dead in rebel push

GMT 07:57 2017 Tuesday ,21 February

11 family members dead in rebel push
Arab Today, arab today To probe sexual harassment claims

GMT 10:08 2017 Tuesday ,21 February

To probe sexual harassment claims

GMT 14:57 2017 Monday ,20 February

A giant initial public offering on track

GMT 14:50 2017 Monday ,20 February

Energy Market Research

GMT 09:38 2017 Monday ,20 February

Japan returns to trade deficit in January

GMT 07:16 2017 Monday ,20 February

Global arms trade highest since Cold War

GMT 06:10 2017 Monday ,20 February

Tourism shows signs of recovery in Egypt

GMT 05:45 2017 Monday ,20 February

Brexit U-turn ruled out by many in EU
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Ahmed Fahmy stresses he did not ignore singing

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 14:51 2017 Monday ,20 February

Ways to acquire presentation skills

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday