Presidency of Financial Authorities and Financial Holding Companies met today (20th). The meeting was created to discuss countermeasures in the face of criticism and pressure that banks are earning huge interest income amid high interest rates. Banks have decided to cut the interest of the self-employed and small business owners, who are struggling the most due to higher interest rates, which is expected to be around 2 trillion won.

Today's first news will be delivered by reporter Yoo Deok-ki.

As the
burden on ordinary people increases due to the high-interest rate environment, and the interest income of the financial sector has increased to a record high, and the demand to share the pain has grown, the financial authorities have summoned the chairmen of the five major financial holdings.

[Kim Joo-hyun/Chairman of the Financial Services Commission: The record-breaking increase in interest income in the financial sector means an unprecedented increase in the burden on the people.]

The target audience is the self-employed and small business owners, who have been hit the hardest by high interest rates since the pandemic.

The method of support is to directly and partially alleviate the interest burden.

[Kim Joo-hyun/Chairman of the Financial Services Commission: A tangible measure that can directly reduce a certain level of interest rate burden within the maximum range without harming the soundness of financial companies...]
this year, due to the controversy over banks' performance-based "money feasts," the banking sector decided to raise 5 trillion won over three years, but it was judged that the sentiment was low.

A 'cashback' method of returning a portion of the interest equal to the increase in interest rates after borrowing is also being discussed.

Vulnerable groups and small and medium-sized enterprises (SMEs) were excluded because of the existing policy programs for ordinary people or SMEs.

The amount of interest reduction in the entire banking sector is expected to be about 3 trillion won.

This is because if the "windfall tax" bill recently promoted by the Democratic Party is actually implemented, it is estimated that the amount of excess profits that the banking sector will have to spit out will be about 10 trillion won.

The banking sector has decided to come up with a detailed support scale and specific plan within this year.

(Video interview: Kim Won-bae, Video editing: Won Hyung-hee)

▶ Soaring 'delinquency rate of the self-employed'...'windfall tax' puts pressure on the banking sector