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![A bank branch in Seoul on Monday. According to the bank industry, the total balance on household loans by the five leading banks in Korea — KB Kookmin, Shinhan, Hana, Woori and NH Nonghyup — in July shrunk 0.27 percent compared to a year ago to 697.7 trillion won. The balance on household loans has been shrinking as interest rate hikes to combat inflation have increased burden. [YONHAP]](https://image.koreajoongangdaily.com/10300897.jpg?imageId=10300897&width=240&height=184&format=webp&format=jpg)