Market Chatter: South Korea's FTC Fines Four Top Banks Over Real Estate Loan Malpractice

MT Newswires Live

Jan 21

South Korea's Fair Trade Commission fined four of the country's top banks for allegedly working together to limit real estate lending, Yonhap News reported Wednesday.

Penalties totaling 272 billion won were slapped on Shinhan Financial Group's (KRX:055550) Shinhan Bank, Woori Financial Group's (KRX:316140) Woori Bank, KB Financial Group's (KRX:105560) KB Kookmin Bank, and Hana Financial Group's (KRX:086790) Hana Bank.

The antitrust regulator accused the banks of sharing internal loan-to-value ratio documents and coordinating mortgage lending practices that lowered competition. These exchanges range from at least 736 cases to a maximum of 7,500 cases, the report said.

The banks' malpractice disproportionately hurt small- and mid-sized firms and small business owners, who typically have lower credit ratings and significantly depend on secured loans, according to the report.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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These exchanges range from at least 736 cases to a maximum of 7,500 cases, the report said.</p><p>The banks' malpractice disproportionately hurt small- and mid-sized firms and small business owners, who typically have lower credit ratings and significantly depend on secured loans, according to the report.</p><p>(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"FTC","symbol_name":"First Trust Large Cap Growth Opp","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2605055051","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2605055051","pubTimestamp":1768992960,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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These exchanges range from at least 736 cases to a maximum of 7,500 cases, the report said.The banks' malpractice disproportionately hurt small- and mid-sized firms and small business owners, who typically have lower credit ratings and significantly depend on secured loans, according to the report.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}