South Korean household borrowing climbs in May, biggest rise in 20 months
newscatcher
2023-06-09 04:31
South Korean household borrowing climbs in May, biggest rise in 20 months
SEOUL – Borrowing by South Korean households grew in May, marking the biggest increase in 20 months, as demand for mortgages climbs due to a loosening of regulations. Total household borrowing from banks increased by 4.2 trillion won ($3.3 billion) or 0.4 percent to stand at 1,056.4 trillion won at the end of May, according to the Bank of Korea. It was a second straight month of gains after a 2.3 trillion won rise in April. Total borrowing for the year to date is down 1.7 trillion won from the end of 2022.

https://business.inquirer.net/404625/south-korean-household-borrowing-climbs-in-may-biggest-rise-in-20-months

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