Kim Byung-hwan "Maintaining Household Debt Management...Stage 3 Stress DSR Implemented in July"

Kim Byung-hwan, chairman of the Financial Services Commission, said he will maintain the current stance on household debt management.

Chairman of the states Affairs Commission Kim said at a monthly press conference today (22nd) that he will continue to manage household debt growth within the current growth rate.

Specifically, it explained that it is in talks with the banking sector to manage household debt growth from the government's forecast current growth rate of 3.8% this year.

In particular, we plan to push for the total debt repayment ratio and DSR strengthening, which means the size of debt to income.

Chairman of the states Affairs Commission Kim said he would implement the three-stage stress DSR from July as he had announced, and stressed that he would announce the detailed stress rate level or application target in April or May at the latest.

However, he said he would manage local banks' household debt growth more flexibly as there are concerns about the local real estate market, adding that he could take it slightly higher than the current growth range.