South Korea’s household loans rose by $4.8b in Q4

Loans extended by banks rose by $8.5b during the period.

Loans extended to South Korean households rose by about $4.87b (KRW6.5t) in the last three months of 2023, for a total of over $1.41t (KRW1,886t) according to data from the Bank of Korea (BOK).

Loans extended by commercial and specialised banks saw the largest increase, rising by $8.5b (KRW11.4t) during the period.

Household loans lending by non-bank depository corporations, meanwhile, decreased by $4.34b (KRW5.8t) following its decrease of $3.6b (KRW4.8t) in Q3.

Lending by other financial corporations increased by $749.3b (KRW1t), after an increase of $6.89b (KRW9.2t) in Q3.