Photo : YONHAP News
The debt owed by Korean households has set another record for the record.
It is worth 1682 trillion won.
In the third quarter alone, the number increased by KRW 44.9 trillion, which is a significant increase compared to the increase of KRW 25.8 trillion in the second quarter.
In particular, in the third quarter alone, other loans including’credit loans’ increased by nearly 22 trillion won.
It seems that our households needed housing funds, stock funds, and living funds from Corona 19.
According to the statistics of ‘3rd quarter household credit (provisional)’ released by the Bank of Korea on the 24th, the balance of household credit as of the end of the third quarter was KRW 168.2 trillion, the largest since the fourth quarter of 2002 when statistics were started.
Household credit is the sum of money borrowed by households.
It refers to a’comprehensive household debt (liabilities)’ that adds up to the amount used by the card before payment (sales credit) in addition to loans received by households from banks, insurance companies, lenders, and public financial institutions.
Household credit in the third quarter increased by 2.7%, an increase of 44.9 trillion won from the end of the second quarter.
This is a 7% increase from the third quarter of last year.
In particular, the household credit increase of 44.9 trillion won in the third quarter of this year is the largest increase since the 46 trillion won recorded in the fourth quarter of 2016.
Out of the total increase of KRW 44.9 trillion, the increase in other loans including credit loans was remarkable.
During the third quarter, other loans increased by nearly 22 trillion won.
This increase is the largest ever.
Other loans increased by KRW 9.4 trillion in the second quarter, but in the third quarter this year, it has more than doubled the increase in the second quarter.
The increase in other loans in the third quarter of KRW 22 trillion is equivalent to the increase in other loans of KRW 23 trillion in the past year.
Song Jae-chang, head of the Bank of Korea’s financial statistics team, said, “In the third quarter, home sales and charter transactions increased from the second quarter.” “There was demand for housing funds, and in addition to the demand for stock funds, the demand for living funds increased due to Corona 19.” Analyzed.
Among household loans, home mortgage loans increased by KRW 17.4 trillion in the third quarter alone, and the balance of loans was KRW 890 trillion.
This is the largest increase in home mortgage loans since the KRW 24.2 trillion recorded in the fourth quarter of 2016.
This increase in mortgage loans is also the largest increase this year.
The increase in mortgage loans has recorded 15 trillion won in the first quarter of this year and 1.4 trillion won in the second quarter.
In particular, considering the increase of KRW 9.5 trillion in the third quarter of last year, the increase in mortgage loans this quarter is almost twice as large.
“Recently, the rate of increase in household credit is due to the fact that housing transactions are actively taking place despite government’s various lending regulations, and there is demand for stock transactions,” said Song. “It is necessary to pay attention to the rate of growth, and to watch it.” Said.