Hana Bank, a major South Korean bank, has decided to sell delinquent claims held by Sangnoksoo, a private bad bank established during the 2003 credit card crisis, to the New Leap Fund. This move comes after a report highlighting the lack of debt relief for those affected by the credit card crisis.
Hana Bank headquarters. Provided by Hana Bank Following Shinhan Card, Hana Bank , which holds a 10% stake in the private bad bank Sangnoksoo No. 1 Securitization Specialty Company ( Sangnoksoo ), announced on the 12th that it has also decided to sell Sangnoksoo delinquent claims to the New Leap Fund .
This move came right after a Kyunghyang Shinmun report titled ‘Though debt relief was championed, 90,000 from the credit card crisis 23 years ago were left behind··A blind spot in the Lee Jae Myung administration New Leap Fund’
Hana Bank Sangnoksoo New Leap Fund Credit Card Crisis Debt Relief
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