April 19, 2024
Economy
Monthly increase continue to extend
[THE INVESTOR] Outstanding household loan ballances from local lenders reached 713.9 trillion won (US$621 billion) as of end-March, gaining 2.9 trillion won for two consecutive months, the Bank of Korea said on April 13.
The increase in household loans dropped sharply to 69.1 billion won in January, compared with December's 3.4 trillion won increase.
However, it bounced back in February to record 2.9 trillion won of increase and continued to extend in March by 2.9 trillion won again, as mortgage loans continued to increase.
The total amount of mortgage loan balances as of end-March reached 538.5 trillion won, up 2.6 trillion won on month. The Bank of Korea said the incrase in mortgage loans was largely attributed to the new collective loans by buyers of new apartments.
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