Lee Eokwon: "Household Debt Issue Requires Both Quantitative and Qualitative Management"

Lee Eokwon, the nominee for Chairman of the Financial Services Commission, is attending the confirmation hearing held by the National Assembly's Political Affairs Committee on the 2nd, responding to questions from lawmakers. 2025.9.2 Photo by Kim Hyunmin

Lee Eokwon, the nominee for Chairman of the Financial Services Commission, stated that both quantitative and qualitative management are necessary to address the household debt issue.

During the confirmation hearing held by the Political Affairs Committee on the 2nd, Lee responded to questions regarding household debt management measures by saying, "In quantitative terms, since it is not possible to sharply reduce the total amount of household debt, we will gradually and progressively decrease it."

He also emphasized the need for a comprehensive management plan from both the supply and demand sides of lending. Lee explained, "On the supply side, we should redirect lending toward productive finance, such as supporting business activities. On the demand side, loans should be provided in line with borrowers' repayment capabilities. This way, we can reduce both supply and demand together."

Regarding concerns that high-risk groups, such as low-income households, could become an economic time bomb during the process of reducing total household debt, he commented, "I believe we must manage this well through financial support for ordinary citizens."