In September, South Korean household lending rose for the sixth consecutive month, with mortgage loans driving the increase.
In September, South Korean banks saw household lending rise for the sixth month in a row, increasing by 5.7 trillion won ($4.2 billion) to a total of 1,135.7 trillion won. This growth was primarily due to mortgage loans, which rose by 6.2 trillion won amid relaxed regulations, despite a decline in other household loans. Additionally, corporate lending grew by 4.3 trillion won, following a 25 basis point cut in the benchmark interest rate by the Bank of Korea.
October 11, 2024
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