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[Yoo Choon-sik] Saemaul Geumgo and trust in financial system

Some of the business irregularities involving MG Community Credit Cooperatives, better known as Saemaul Geumgo within the country, have again grabbed media headlines in recent weeks, even as their stretched exposure to the depressed real estate market remains a potential risk to South Korea’s financial stability. The Korea Economic Daily and other local media reported that Saemaul Geumgo cooperatives paid out s. ....

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[Yoo Choon-sik] Saemaul Geumgo and trust in financial system

Some of the business irregularities involving MG Community Credit Cooperatives, better known as Saemaul Geumgo within the country, have again grabbed media headlines in recent weeks, even as their stretched exposure to the depressed real estate market remains a potential risk to South Korea’s financial stability. The Korea Economic Daily and other local media reported that Saemaul Geumgo cooperatives paid out s. ....

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MG Community Credit Cooperatives' rising loan defaults prompt financial oversight

Financial authorities are set to initiate inspections of MG Community Credit Cooperatives amid an increasing risk of financial instability. This marks the first examination on MG conducted by financial regulatory authorities instead of the Ministry of the Interior and Safety, which normally supervises the credit union. ....

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Parties go all out ahead of early voting - The Korea Times

Political parties are engaged in heated campaigning with less than a week left until early voting for the general elections. The ruling People Power Party (PPP) is escalating attacks on its liberal opposition the Democratic Party of Korea s (DPK) controversial candidates, while the DPK s election strategy is focused on scrutinizing the Yoon Suk Yeol administration to resonate with voters who are displeased with the government s performance. ....

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Refusal to open bank accounts for Iranian nationals constitutes discrimination: human rights watchdog

It constitutes discrimination for banks to refuse a customer the right to open a bank account based solely on their nationality, the National Human Rights Commission of Korea (NHRCK) ruled, Monday. ....

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