South Korean banks' delinquency rate inches up to 0.48% in October

Resolved loans decreased by $1.8b month-on-month.

South Korean domestic banks’ delinquency rate on won-denominated loans stood at 0.48% in October 2024, marking a 0.03 percentage point increase from September, according to data from the Financial Supervisory Service.

Resolved loans decreased by $1.8b (KRW2.6t) month-on-month, whilst newly delinquent loans were unchanged in September.

The delinquency rate on loans to large companies remained stable at 0.04% in October. However, loans to small and medium-sized enterprises saw an increase, rising from 0.65% in September to 0.70% in October.

Household loans also experienced a slight uptick, with the delinquency rate increasing by 0.02 points to 0.38% during the same period.

($1 = KRW1,435)