[Capture News] Let's block the hole where money comes out. "It's going to explode."soaring danger levels

It is a credit card company loan that the self-employed or the financially vulnerable group with low credit ratings usually look for when borrowing emergency money.

As of the end of last month, the amount of domestic card loans, such as credit card loans and cash services, was tallied at 44.6 trillion won.

It is the largest since 2003 when financial authorities released related statistics, and most of them are long-term loans.

Analysts say that demand is flocking to credit card loans as loan regulations make it difficult to borrow money from the primary financial sector.

The problem is that the number of borrowers who cannot pay their loans on time is also on the rise.

As of the end of last month, the percentage of credit card loans that have not been paid back for more than a month was 3.1% and KRW 1.4 trillion, which has been on the rise for four consecutive years.

This means that the repayment burden of self-employed people has reached its limit, raising concerns that insolvency could expand across the financial sector.

[Seok Byung-hoon / Professor of Economics at Ewha Womans University] If several financial institutions draw and spend loans as much as possible, if the credit card loan with the highest interest rate starts to be overdue, other loans may also be difficult to repay, and insolvency may be transferred to financial institutions.]

In fact, more than 110,000 borrowers have entered the debt adjustment process because they failed to pay their debts after receiving loans from financial institutions.

While financial authorities are rushing to put the brakes on credit card loans, it is pointed out that it is only a matter of time before vulnerable borrowers who are pushed to the limit even touch illegal private finance.

I'm YTN Hwang Bo Hye-kyung.

edit video|Han Su-min
Design|Lee Na-young
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