(1)Rush & Cash Rush-and-Cash Corporation Name Afro Financial Loan Co., Ltd
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(2)Apro Financial, an affiliate of OK Financial Group, used to be South Korea’s largest consumer finance company, but in October 2023, it returned a license related to the consumer finance industry to the financial authorities to clean up the consumer finance industry
(3)The return of the license was made as part of the implementation of the savings bank’s sound management and conflict of interest plan promised by OK Financial Group, a group company, to the financial authorities OK Financial Group promised the financial authorities to gradually withdraw from the consumer finance industry as a condition for its acquisition when it acquired Yeju and Ye Na-rae Savings Bank, the predecessors of OK Savings Bank, in 2014
(4)Rush & Cash’s return of the license is meaningful in that it has solved the final puzzle of OK Financial Group’s withdrawal from the consumer finance industry, which has been pursued for more than a decade. Earlier, OK Financial Group returned the consumer finance business licenses of OneCash and Ms. Sarang, the group’s consumer finance companies, to the financial authorities over two years in 2018 and 2019, and ended the withdrawal of the consumer finance business with the return of Rush & Cash’s license in October 2023. 1
(5)Rush and Cash
(6)It was the No. 1 lender in Korea
(7)The government has tightened restrictions on the loan business
(8)It’s just withdrawal
(9)It’s not a loan business. It’s looking for other businesses
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