The balloon effect of household loans in the second financial sector...Financial authorities conduct on-site inspection of Nonghyup Central Committee

The financial authorities have begun an on-site inspection of the National Agricultural Cooperative Federation amid the balloon effect of tightening demand due to the surge in household loans in the second financial sector last month.

According to financial authorities and the financial sector, the Financial Supervisory Service will investigate the handling of household loans at the National Agricultural Cooperative Federation starting today.

It comes a day after the financial authorities announced plans to inspect the second financial sector at a household debt inspection meeting.

The Financial Supervisory Service will also check the status of household loans at the joint inspection of the government of the Korea Federation of Community Credit Cooperatives, which will begin on the 18th.

Household loans in the financial sector increased by KRW 6.6 trillion last month from September, of which household loans in the second financial sector increased by KRW 2.7 trillion.