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Industry Report

Industry reports, briefs issued by Samsung Economic Research Institute

Relaxing the Registration System for Credit Delinquents

Relaxing the Registration System for Credit Delinquents

JEON Hyo-Chan

Dec. 11, 2004

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On November 25, the Korean government reviewed the current registration system for credit delinquents, deciding to end the practice of blacklisting. At the same time, government officials proposed a wider way of managing all information regarding individuals' credit situations: in the future, credit defaulters will be classified in more detailed categories, and all information - such as default amount and debt repayment records - will be consolidated for better assessment.


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