![]() In 2021, about 37,000 to 56,000 people bad credit were estimated have turned to loan sharks to borrow money. That marks a 26 percent increase compared to a year ago. The research institute surveyed 5,478 people with low credit scores and 23 loan companies from mid-December of 2022 until the end of January this year. NewsisĪs many as 71,000 people with low credit scores were found to have turned to loan sharks to borrow money last year as interest rates surged, according to a recent survey by Korea Research Institute for Financial Inclusion, whose results were announced, Monday. A flyer advertising private loans is placed on the floor of a market in Seoul. ![]()
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