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KOREA'S MOFE CONSIDERS LOWERING INTEREST RATE CEILING TO 50 PCT.
SEOUL, June 1 Asia Pulse - The Ministry of Finance and Economy is considering lowering the ceiling on the annual interest rates on loans offered by private moneylenders to 50 per cent, down 10 percentage points from the originally proposed 60 per cent.
"We are considering lowering the interest rate ceiling to protect clients, though private moneylenders and civic organizations disagree as to whether the rates should be raised or lowered," a ministry official said.
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