Tag: household credit

household credit

Latest News

Apartment complexes are pictured in Seoul on Aug. 3. [NEWS1]

Household debt reaches record $1.4 trillion

Korea's household debt reached 1,952.8 trillion won ($1.4 trillion), driven by increased mortgage borrowing and stock investment activity.

2025.8.19

Korea’s household credit stood at a record 1,886.4 trillion won ($1.41 trillion) at the end of December, up 8 trillion won or 0.4 percent from the previous quarter, according to preliminary data by the Bank of Korea released on Tuesday. A banner promotes mortgage products in front of a bank in Seoul. [YONHAP]

Household credit growth slows in Q4 of 2023 on cooling real estate market

Korea’s household credit growth slowed in the fourth quarter of last year as the real estate market remained weak amid high borrowing costs.

2024.2.20

Most popular

Displayed is a poster for loans at a bank in Seoul. Household loans lent out by the top five banks in January increased by 2.238 trillion won ($1.71 billion) from the end of December, according to the finance sector on Wednesday. Household loans made by the top five banks have increased for eight consecutive months. [YONHAP]

Household loans rising

Household loans lent out by the top five banks in January increased by 2.238 trillion won ($1.71 billion) from the end of December, according to the finance sector. Household loans made by top five banks have increased for eight consecutive months.

2024.1.3

A banner outside a bank in Seoul shows information about its loan programs on Oct. 3 in 2021. [YONHAP]

Korea's household credit hits record high in Q3

Korea's household credit hit a record high in Q3, driven by mortgage and credit card spending, despite high interest rates.

2023.11.21

A person pedals by a banner advertising loans in Seoul on Tuesday. [NEWS1]

Household debt decreases at fastest pace ever in first quarter

Korea's household debt in the first quarter decreased at the fastest pace ever amid high-interest rates and loan regulations. The amount of household debt in the first quarter stood at 1,853.9 trillion won ($1.4 trillion), down 13.7 trillion won...

2023.5.24

Household credit shrinks at sharpest pace in Q4 amid high borrowing costs

Korea's household credit shrank at the sharpest pace in the fourth quarter of 2022 amid high interest rates driven by the central bank's monetary tightening to bring down inflation, data showed Tuesday.

2023.2.21

A banner hung on the wall of a commercial bank in Seoul shows the bank's loan interest rate on Nov. 18. [YONHAP]

Household credit up in Q3 on more credit purchases amid eased virus curbs

Korea's household credit grew in the third quarter of this year despite rising borrowing costs as people expanded spending on borrowed money amid eased virus curbs, central bank data showed Tuesday.

2022.11.22

Household credit hits an all-time high as rates increase

Korea's household credit hit a record high in the second quarter of this year but its on-year growth slowed for four straight quarters amid tough regulations on lending and rising borrowing costs, central bank data showed Tuesday.

2022.8.23

Song Jae-chang, head of monetary and financial statistics team at the Bank of Korea, speaks at an online press event held Tuesday morning. [NEWS1]

Household debt up 7.8% on year in fourth quarter to record

Household debt rose 7.8 percent in the fourth quarter on year to a record 1,862.1 trillion won ($1.55 trillion), according to the Bank of Korea.

2022.2.22

Half of Koreans aged between 40 and 64 are in debt

More than half of Koreans aged between 40 and 64 held debt last year as more people took out loans to buy homes amid skyrocketing housing prices, data showed Tuesday.

2021.12.21