Director Kim Yong-beom Raises Issues of Credit Ratings and Financial Polarization

Kim Yongbeom, Chief Policy Officer at the Blue House, pointed out that the credit rating system is a factor that deepens financial polarization. In a post on social media service (SNS), he explained that credit evaluation does not sufficiently reflect an individual's present and future, and instead classifies people mainly based on their past records. Kim also argued that even with the same income, regular employees and selfemployed workers are assessed differently, and that those with insufficient financial transaction history may face disadvantages. He further noted that the gap between credit scores and loan interest rates places a greater burden on lowcredit borrowers, viewing this as a structural problem created by finance. He raised concerns about the financial sector's overly simplistic division of customers into prime and nonprime categories, and stated that the credit evaluation structure needs to be improved. This article comes after President Lee Jaemyung criticized the issue of highinterest loans for lowcredit borrowers, and it is also connected to discussions on improving financial accessibility.