Yoon: "People Suffer from High Bank Interest Rates"... Orders Measures Against 'Bank Money Feast'

Presided over the Chief Secretary Meeting on the 13th, Criticizing the 'Financial Sector Money Party'

[Asia Economy Reporter Baek Kyunghwan] President Yoon Suk-yeol on the 13th stated, "The high interest rates at banks are causing great suffering to the people," and instructed the Financial Services Commission to prepare related measures.

On the same day, President Yoon presided over a senior secretaries meeting at the Yongsan Presidential Office and urged, "The Financial Services Commission should prepare related measures to prevent the public from feeling alienated due to the 'banks' money feast.'"

In particular, President Yoon said, "Banks have a public goods nature," adding, "It is appropriate to consider that profits be returned as so-called win-win financial benefits to those in difficulty such as the public, self-employed, and small business owners, and to use them to build strong reserves in preparation for future financial market instability."

President Yoon's directive appears to be in response to recent criticisms that while ordinary citizens and the self-employed are struggling due to high interest rates, banks are holding a 'money feast' by posting record-high profits.