FSC urges banks to refrain from competitive debt collection
Jul 29, 2016
[THE INVESTOR] South Korea’s top financial regulator on July 29 urged domestic lenders to stop their “indiscriminate” debt collection practices against firms that are sensitive to economic upheavals, saying excessive attempts to do so could heighten their instability.“If lenders competitively mount pressure on firms to repay their debt, it will be difficult for them to maintain financial stability,” Financial Services Commission Chairman Yim Jong-yong said during a meeting with heads of policy a