The FSC and the FSS held a monitoring meeting with the Consumer Loan Finance Association on October 28 to check the situation of credit business sector with a focus on lower income groups. Financial authorities reviewed the current status of credit supply to lower income groups by credit businesses, checked borrowing conditions of credit businesses and listened to opinions raised by the Consumer Loan Finance Association.

At the meeting, financial authorities and the association shared a common recognition that if credit supplies from credit businesses shrink significantly under the current economic conditions, lower income groups will face more difficulties.

In this regard, financial authorities demonstrated a desire to actively communicate with the credit business sector. Authorities also encouraged credit businesses to fulfill their role and duty as a pillar of lower income finance by ensuring credit supply for lower income groups.

* Please refer to the attached PDF for details.