(Seoul=NSP News Agency) Jiye Kim Journalist = Korea is moving to ease restriction on issuing credit card for foreigners.
The Financial Services Commission maintains the policy to judge credit ratings and disposable incomes to issue credit cards. Yet under the new regulation, for some who have difficulties to verify disposable income, proving security deposit could be an alternative method.
The revised regulation enables foreigners to issue and renew credit cards by simply proving security deposit. The same laws apply to Korean, who is struggling from no credit or low disposable income.
The Financial Services Commission maintains the policy to judge credit ratings and disposable incomes to issue credit cards. Yet under the new regulation, for some who have difficulties to verify disposable income, proving security deposit could be an alternative method.
The revised regulation enables foreigners to issue and renew credit cards by simply proving security deposit. The same laws apply to Korean, who is struggling from no credit or low disposable income.
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