ScholarWorks@숙명여자대학교

초록

Using the Survey of Household Finances and Living Conditions in 2018, this article aims to analyze the household demand for credit in Korea and to provide a detailed account of its characteristics in order to consider the microfinance policy direction. According to the results, the households with one or two kinds of loans have better financial conditions than the households with none of them. Comparing the households with excessive repayment burdens and the low income households, it turns out that the latter group suffers more difficulties. Also, this study identifies some important influential factors on delinquency experience which usually causes bad credit. They are low levels of net worth and income, borrowing at a high interest rate. Microfinance is an important area in pursuing financial inclusion which has been emphasized worldwide as well as in Korea. Some households are not able to get a loan at an appropriate level of interest rate and there exist those that give up borrowing or bear excessive repayment burdens. These things relate to the lack of markets for mid-range rate loans. Even though the government has made every effort to support disadvantaged financial consumers so far, it is necessaryto enable the market mechanism to work properly.