Elderly Individuals Borrow Extra From Cost Savings Financial Institutions, Personal Lending Institutions

The elderly in South Korea are significantly turningrelying on financial savings financial institutions or smaller sized exclusive lenders despite reasonably high passion pricesrate of interest, information revealed Monday.Outstanding financings prolonged by local cost savings banks to people aged 60 or older amounted to 218.2 billion won( $188 million )at the end of last year, up 41.32 percent from a year earlier, inning accordance with Rep. Min Byung-doo of the Democratic Party.