South Korean banks' household lending increased in May, primarily driven by mortgage loans.
South Korean banks' household lending rose for the second consecutive month in May due to strong demand for mortgage loans. Debt owed by households to deposit-taking banks expanded 6.0 trillion won (4.4 billion USD) from a month earlier, reaching 1,109.6 trillion won (805.9 billion USD) at the end of May, according to the Bank of Korea (BOK). Mortgage loans increased 5.7 trillion won (4.1 billion USD) during this period.
June 12, 2024
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