Korean banks temporarily halt mortgage lending over household debt worries
Aug 20, 2021
South Korean banks have started to temporarily halt their home-backed loans under pressure from financial authorities seeking to rein in the nation’s snowballing household debt, sources said Friday. NH NongHyup Bank, one of the country’s top five commercial banks, decided to suspend all mortgage lending from next week until Nov. 30. Switching and renewals of mortgages will be halted as well. Ex...