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Lessons from efforts of the Republic of Korea to help financially vulnerable borrowers before the pandemic can help shape effective measures.
Governments should provide policy and financial support to industries that shift to remote or noncontact transactions to cope with COVID-19.
Financial readiness and pre-arranged support reduce delays, protect budgets, and enable faster, more efficient rebuilding.
The Republic of Korea wants to help businesses to secure loans using movable assets, including goods, receivables, and intellectual property.
In the Republic of Korea, there is a need for a consolidated database to provide timely market information on self-employed workers by region and business sector.
In easing the debt burden of economically vulnerable groups, measures should be taken to prevent creditor resistance and moral hazard among borrowers.
Population aging threatens fiscal sustainability unless government takes steps to reduce elderly poverty and manage public spending on pensions and healthcare.
Managing household debt is becoming increasingly difficult for low-income households.
In the Republic of Korea, the finance sector needs environmental, social, and governance evaluation criteria amid growing shareholder stewardship.
A strategy for increased banking opportunities in Southeast Asia.