Han Deok-su: "The September Crisis Rumor Caused by Self-Employed Is Not True"

Prime Minister Han Duck-soo dismissed the September self-employed crisis theory as unfounded.

On the 13th, during the economic sector government questioning session at the National Assembly, Han responded to a question from People Power Party lawmaker Yoon Sang-hyun about the 'September crisis theory' originating from the self-employed, saying, "Already last September, maturity extension measures were taken for 92% of the loan balances until September 2025."

Han explained, "98% of borrowers with repayment deferrals have completed the preparation of repayment plans," adding, "For some borrowers who may be at risk of default and are not included in this group, financial restructuring is planned through a new start fund of about 30 trillion won provided by last year's supplementary budget."

According to the Financial Services Commission, as of the end of March, the loan balance subject to maturity extension and repayment deferral measures was 85.3 trillion won, a decrease of 14.7 trillion won compared to the end of September last year. During the same period, the total number of borrowers decreased by 46,000, from 434,000 to 388,000.

Loans subject to maturity extension measures amounted to 78.8 trillion won, accounting for 92% of the total. The scale of principal and interest repayment deferrals was 6.6 trillion won (16,100 borrowers), representing about 8% of the total.

Han added, "For borrowers under the loan repayment deferral measures, financial institutions have also negotiated and prepared repayment plans to adjust debts by methods such as lowering interest rates."

[Image source=Yonhap News]