[JTBC News 2024.09.05]

The question is whether the financial company warned of this risk.

An internal KB Securities document obtained by the reporter mentions 'refinancing' as one of the risk factors.

It means that when the value of the building falls, it may be difficult to obtain financing from local banks, making it difficult to repay the debt.

[Lee Sung-woo/Lawyer: If the appraised value drops significantly, it means that Union Bank (a local bank), which wrote the loan underwriting agreement, will not underwrite the loan. If there was such a risk from the time of investment and it was not explained...]

But this was not included in the product manual for customers.

The company describes the mezzanine product, which is 'high risk high return', as a rather stable structure.

Source: JTBC(https://jtbc.co.kr/)