Korea’s major financial groups have pointed to the government’s push for easier financial access for low-income borrowers and funding for small businesses as a potential management risk in their U.S. regulatory filings, according to industry officials Thursday. The remarks, which were not included in domestic regulatory disclosures, appeared to reflect concerns within the industry over policy-driven lending initiatives and their potential impact on profitability and asset quality. According to industry officials, KB Financial Group, Shinhan Financial Group and Woori Financial Group recently submitted annual reports for fiscal year 2025 to the U.S. Securities and Exchange Commission (SEC), as their American depositary receipts (ADRs) are listed on the New York Stock Exchange. Hana Financial Group was excluded, as it does not have ADRs listed in the United States. These developments come as the Lee Jae Myung government has pushed local financial institutions to expand inclusive finance initiatives aimed at improving financial access for low-income and vulnerable borrowers, while also prom
Financial groups flag risks from gov’t-led ‘inclusive finance’ in US filings
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Learn People & History of Korea
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