South Korea's household loans up 0.9% in Q3

Total outstanding household credits was $1.28t as of end-September 2024.

Household loans in South Korea rose by KRW16t in the third quarter of 2024, according to data from the Financial Supervisory Service (FSS).

Total outstanding household credits was approximately $1.28t (KRW1,795.8t) as of end-September 2024, 0.9% higher than the end of the previous quarter.

This is an extension of the $9.52b (KRW13.3t) expansion recorded in Q2.

By lender type, $16.25b (KRW22.7t) came from commercial and specialized banks, offset by a $1.22b (KRW1.7t) decrease from lending by non-bank depository corporations and almost $3.51b (KRW4.9t) decrease from lending by other financial corporations.

(US$1 = KRW1,396.7; as of 22 November 2024, 12:06PM)