S. Korea's Household Credit Hits New High in Q2

Write : 2014-08-26 17:57:37 Update : 2014-08-26 18:22:58

S. Korea's Household Credit Hits New High in Q2

South Korea's household credit hit a new high in the second quarter.

The nation’s household credit, which surpassed the one quadrillion won mark last year, posted a growth for the fifth consecutive quarter.

The Bank of Korea (BOK) said Tuesday that household credit reached one-point-04 quadrillion won as of the end of June, up six-point-two percent from a year ago.

The gain is much larger than the three-point-seven percent growth of the country’s nominal gross national income (GDP) last year.

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