International Lending, debt and loan guide in Japan, Korea


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International Lending, debt and loan guide in Japan, Korea
Posted on: January 21, 2021, 10:09:37 PM
Financial products such as credit cards, private car loans, and mortgages are also sold overseas. Especially in the United States, insurance products and financial products are loosely regulated, so financial products that are unthinkable in Japan are being sold.

For example, there are companies that buy life insurance and medical insurance, which looks attractive, but it's also a little scary. Especially for consumer credit cards such as Acom cards.

On this site, I would like to introduce in detail the overseas financial situation. I would like to be able to roughly explain everything from actual financial products to the way of thinking about debt.

I hope that it will be useful information for those who plan to live abroad, those who plan to move overseas, and even companies with foreign workers.

Awareness of debt is also diverse

In the case of Japanese people, I feel that there is a culture of shame about debt.
Many people have said that they want to get a loan secretly so that people do not notice it, and financial institutions are making various efforts to answer it.

This also seems to be common to some countries, though to varying degrees.
In every country, "I have more than tens of millions of yen in debt! Excuse me!"
There seems to be no one to exaggerate like that.

Foreign-affiliated insurance products and financial products

Japanese products are available in Japan and overseas products are available overseas, but if you are familiar with financial information, you may know the variety of foreign-affiliated cards.

Of course, it is within the scope of the law governing finance, but there may be financial products that seem unreasonable at first glances, such as those offered by Japanese banks.

While giving specific products, I would like to introduce some unusual products.
It may be possible to get a lot of inspiration from knowing the overseas financial situation like this.
I think there will be more excuses like "I wish I were in that country", so please take a look.

Can I borrow money abroad?

Many people will temporarily live abroad by moving abroad or studying abroad. If I say this, can I get a loan like in Japan?

The answer varies from country to country, but most of the time it is yes.

You can also repay your overseas loan by returning to Japan, so be sure to know if you have the opportunity to live abroad.
For example, you can buy things you buy overseas with a credit card.

Law and financial products

Whether or not you can borrow money abroad depends on the law of the country and the type of loan.
There is no problem if you are completely naturalized overseas, but if you say that you want to live abroad for only a few years, you will have problems.

This is because you can return to Japan with your debt remaining.
Of course, returning to Japan does not mean that the debt you have received overseas will disappear.
Rather, it is a loan that is out of the law of Japan, so it is not subject to debt consolidation.

It is also true that some people have said that they will be ruined in Japan by borrowing unreasonably overseas.
Let's moderate the loan abroad.

Are you bad at lending? The ultimate theory.

Neighbouring country South Korea. Recently, there has been active exchange with Japan, from cultural exchanges to business-to-business exchanges.

Did you know that there are more troubles related to debt? Some people, companies, who escaped after lending money to a Korean employee, were told by the Korean company that provided the loan that they did not intend to repay it, but those who do something a little unthinkable There seems to be some.

Originally, loans and credit payments are rampant in South Korea, and there are cases where the values ​​for debt are different from those of Japanese people. This is just an extreme example, but it is an example that I actually heard, so please refer to it.

Mr. A who lent money to a Korean student

Mr A is a college student.
He attended the Faculty of Foreign Studies and majored in Korean.
A Korean friend I made at that time. He seems to be in trouble with money, and he lent tens of thousands of yen.

When I lent it, I was reminded many times that I would definitely return it.
He said he lent money with confidence.
However, no matter how long I stand, I never pay. Mr A, who was completely numb, asked an international student what he meant.

The reply that came back was strangely said, "It is strange to lend money to a person who is in need of money in the first place and think that it will be returned." It's the ultimate.

As I say many times, I'm not saying that I'm Korean.
Please be recognized to the extent that there are people who have said this.
However, it seems also true that there are many similar cases.

A Korean man who wants to look good

Korean men especially try to make themselves look bigger with cars, branded goods, etc.
Especially with regard to cars, there is a tendency for women to go to the city if they have a good car, so it seems that many people have a car loan that does not match their income.

Pay attention to the value of the yen

When borrowing money overseas and repayment in Japan, it is quite possible that the value of the yen at that time and the value of the yen at the time of repayment will be different. Keep in mind that if you do that, you may lose money in terms of payment. There are some people who use this in reverse to make good money. It can be said that a considerable amount of financial knowledge is required.

Also leads to FX

Finding out about overseas loans will also lead to success in Forex.
Knowing the balance between foreign currency and the Japanese yen, you may be able to exchange at the right time.
Recently, there are also consulting services that provide guidance on the use of loans overseas.

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