30% delinquency rate for micro-living loans, highest ever...The highest delinquency rate among young people.

The delinquency rate of low-income financial products has soared to the highest level ever.

According to data submitted by Kim Hyun-jung of the Democratic Party of Korea, a member of the National Assembly's political affairs committee, the delinquency rate of micro-living loans, a policy financial product for low-credit and low-income families, reached 29.7% as of October.

The delinquency rate, which was around 11.7% at the end of last year, soared steeply after entering the 20% range in May, and is on the verge of exceeding 30%.

The micro-living loan is a system that immediately lends up to 1 million won on the same day for low-credit and low-income groups with a credit rating of less than 20% and an annual income of 35 million won or less.

By age group, the delinquency rate of young people was remarkably high.

The delinquency rate in the 20s was the highest at 36.2%, and the delinquency rate in the 30s was 32.4%.

In the aftermath of the economic slowdown, the employment difficulties have overlapped, which seems to have greatly reduced the ability of young people to repay their debts.

The delinquency rate for those in their 40s, 50s, and 60s was in the 20% range.