Legislative restrictions are making it harder for consumers and small businesses to obtain loans in South Korea, leading to a stronger reliance on overdrafts and credit card cash advances. Players are seeking ways to circumvent new regulations, to provide solutions for cash-strapped consumers who continue to grapple with challenging economic conditions.
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Overview:
Understand the latest market trends and future growth opportunities for the Consumer Credit industry in South Korea with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Consumer Credit industry in South Korea, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Consumer Credit in South Korea report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Consumer Credit in South Korea?
- What are the major trends key to understanding Consumer Credit in South Korea?
- How has COVID-19, recession and macroeconomic volatility impacted the market?
- How long will the market take to recover? What are the opportunities now?
- How will political context and shifting cultural values shape future growth?
- Where is future growth expected to be most dynamic?
Consumer Credit in South Korea - Category analysis
KEY DATA FINDINGS
Legislative changes restrict access to credit
Consumers rely on credit card advances as the third stage of DSR rule comes into effect
Digital-first banks shift focus to sole proprietor loans
Rising delinquency rates for BNPL is raising concerns
Consumer reliance on cash advances is expected to continue
New loan regulations push consumers towards overdrafts and car collateral loans
DSR auto loan regulations are expected to push car buyers toward credit card instalment plans
Consumer Lending in South Korea - Industry Overview
Consumer lending is feeling the impact of new legislative measures
KEY DATA FINDINGS
New DSR regulations push consumers towards
Regulations reduce mortgage loan limits
Delinquency rates soar for BNPL
Consumer lending growth to slow amid tougher lending controls
COUNTRY REPORTS DISCLAIMER
The following categories and subcategories are included:
Consumer Credit
- Auto Lending
- Card Lending
- Durables Lending
- Education Lending
- Home Lending
- Other Personal Lending
Consumer Credit
Non-mortgage consumer debt extended to individuals for personal or household use including installment loans and credit cards. Examples of consumer credit include auto lending, card lending, durables lending, education lending, home lending and other personal loans. Consumer credit includes both revolving and non-revolving credit.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Consumer Credit research and analysis database.
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