The delinquency rate of credit card and savings banks is on the rise...Financial authorities "Watch the Speed"

The delinquency rate of credit card companies and savings banks, which provide rapid power, is rising amid the growing demand for rapid power supply from ordinary people due to the worsening economy.

Woori Card had a delinquency rate of 1.78 percent at the end of the third quarter, jumping 0.56 percentage points from the same period last year, while Hana Card rose 0.16 percentage points to 1.82 percent.

KB Kookmin Card rose 0.07 percentage points during the same period.

Late delinquency rates at the end of the third quarter also jumped to the mid-8% level at savings banks, which are on the brink of the cliff due to poor real estate project financing loans.

The Financial Supervisory Service explained that the delinquency rate of savings banks, which soared to 6.55% after the savings bank crisis late last year, jumped to 8.36% at the end of June and rose to the mid-8% range at the end of September.

Financial authorities said that the rise in delinquency rates is inevitable at a time when the economy is in a bad shape, adding that a steep rise will keep an eye on the pace of the rise as much as it can be a risk factor.