Household Loan Growth Slows Substantially

Write : 2018-01-10 16:28:40 Update : 2018-01-10 16:44:00

Household Loan Growth Slows Substantially

The growth of loans taken out by South Korean households has dwindled sharply under the apparent influence of the government’s measures last year to curb speculative real estate investment.  

According to the Financial Services Commission and the Bank of Korea on Wednesday, the country’s combined household loans provided by banks and all other types of lenders grew 90-point-three trillion won last year from a year earlier, marking a substantial drop from an annual growth of 123-point-two trillion won posted in 2016.  

The amount of household loans increased five-point-nine trillion won last month, three-point-three trillion won less than it grew in the same month in 2016. 

Meanwhile, the amount of household loans through banks grew 58-point-eight trillion won last year, continuing its growing trend.

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