855 Teenagers Listed in Poor Credit Group

Korea Times (Seoul, Korea), March 12, 2001 | Go to article overview

855 Teenagers Listed in Poor Credit Group


A total of 2,429,857 people have been listed in the nation's poor credit group as of Feb. 7, according to an analysis by the Korea Management Consulting & Credit Rating Corp.

In the analysis of the data from the Korea Federation of Banks, the credit rating agency said that the 40s age bracket marked the largest number with 829,398, followed by the 30s with 735,888, the 50s with 354,577 and the 20s with 255,775.

In particular, 855 teenagers born in 1982 or later and more than 250,000 people in their 60s or older have also been listed in the poor credit rating.

An official of the credit rating agency said that most of the teenagers are listed due to their failure to pay for goods bought with credit cards or in arrears, as they are able to get cards even though they are unable to get loans from banks. Youths aged 18 or older, but younger than 20, are able to get credit cards if they have income. …

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