NongHyup, credit unions resume group lending as MG prepares restart

Regional NongHyup cooperatives and credit unions in South Korea have resumed group lending after roughly five months of restrictions, following the Financial Services Commission’s decision to manage group loans separately from individual institutions’ household-loan quotas. MG Community Credit Cooperatives, previously without a reopening date, is expected to resume mortgage and group loans as early as this week after coordination with the Ministry of the Interior and Safety. The restart would cover interim payments, relocation expenses and final installment loans for new apartment purchases, although initial supply is expected to remain limited as the ministry calibrates interest rates and loan volumes to protect asset quality.

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