Financial authorities have taken emergency action following massive losses incurred by investors in leveraged ETFs due to the sharp drop in the domestic stock market.
To support vulnerable groups facing debt crises, the government is launching a unified national debt counseling hotline (1375) and implementing comprehensive measures, such as expanding financial support centers and establishing an early warning system.
Market estimates indicate that individual investors incurred losses totaling approximately 2.15 trillion won from leveraged investments over the past month. Notably, investors in their 20s and 30s accounted for 62% of accounts subject to forced liquidation, revealing that the financial impact was concentrated among the younger demographic.
The "1375" service serves as a one-stop consultation channel, providing comprehensive guidance on debt restructuring through the Credit Counseling & Recovery Service, support for filing individual rehabilitation or bankruptcy, counseling for victims of illegal private lending, and connections to employment and welfare services.
The government has decided to expand the number of existing comprehensive financial support centers from 50 to 56 and to further increase the number of integrated support centers for individual rehabilitation and bankruptcy.
original post: here
1. It was already risky and they still did it?? It was written all over the walls
2. Wait so we're actually going to bail out those morons who put themselves in their own situation???????
3. Bailing them out is seriously so wrong...
4. Good, good, please save me. I'm getting a taste of d**th right now
5. Why do we need to help them? What about you help me out too? I need to pay back my loan
6. Yah me too, please bail me out..
7. Please don't spend anything on them f*ck
8. What is this bullsh*t?
9. People in their 20s and 30s make up more than half??? That’s a real problem
10. Do you really think they invested without knowing the risk? Why do *we* need to bail them out???????
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