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BOK gov warns of financial stability risks amid failing real estate loans

The governor of South Korea’s central bank Rhee Chang-yong warned of increasing financial sector risks amid rising delinquency for real estate loans— even as there are signs of the property market slowly recovering. “In the mid- to long-term, it is necessary to find a way to smoothly deleverage household debt in cooperation with relevant institutions so that financial imbalances don’t accumulate again,” Rhee said in remarks at the Bank of Korea’s (BOK) 73rd anniversary ceremony. “As the importance of non-banking and the complexity of the system have increased, it is difficult to achieve the goal of financial stability for the…

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