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KAMCO writes off 3.1 trillion won in loans overdue for 20 years

Verifying
  • KAMCO wrote off long-overdue loans for vulnerable borrowers unable to repay.
  • 3.1 trillion won ($2.2 billion) in loans overdue for more than 20 years was cleared.
  • About 38,000 borrowers received forgiveness, while guarantees for 6,000 co-obligors were cancelled.
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