South Korea relaxes rules on credit cards

In a move designed to boost the recession-hit economy, South Korea relaxed credit card rules on Tuesday 30 September allowing firms to extend the maturity of loans while putting off next year's deadline to bring their cash advances into line with assets.

Source: AFP

South Korea eased consumer credit card rules yesterday in an effort to boost the recession-hit economy as official indicators showed industrial activity remains sluggish.

Finance ministry officials said the government had eased restr