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Photo: YONHAP News
Korean household debt has set another record for the record.
It is worth 1,682 trillion won.
In the third quarter alone, the number increased by KRW 44.9 trillion, which is a significant increase compared to the KRW 25.8 trillion increase in the second quarter.
Notably, in the third quarter alone, other loans, including “credit loans,” increased by nearly 22 trillion won.
It seems our households needed funds for housing, funds for stocks and funds for the life of Corona 19.
According to the ‘third quarter (provisional) family credit’ statistics released by the Bank of Korea on the 24th, the family credit balance at the end of the third quarter was KRW 168.2 trillion, the highest since the fourth quarter of 2002 , when the statistics were started.
Family credit is the sum of money loaned by households.
Refers to a ‘comprehensive household debt (liability)’ that is added to the amount used by the card before payment (sales credit) in addition to loans received by households from banks, insurance companies, lenders and financial institutions public.
Credit to households in the third quarter increased 2.7%, an increase of 44.9 trillion won from the end of the second quarter.
This is a 7% increase over the third quarter of last year.
In particular, the increase in household credit 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 notable.
During the third quarter, other loans increased by nearly 22 trillion won.
This increase is the largest ever recorded.
Other loans increased by KRW 9.4 trillion in the second quarter, but in the third quarter of 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 billion is equivalent to the increase in other loans of KRW 23 billion last 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 equity funds, the demand for real funds increased due to Corona 19.” Analyzed.
Among home loans, home mortgage loans increased by KRW 17.4 trillion in the third quarter alone, and the loan balance was KRW 890 trillion.
This is the largest increase in home mortgage loans since KRW 24.2 trillion in Q4 2016.
This increase in home loans is also the biggest increase this year.
The increase in home loans has registered 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 9.5 trillion KRW in the third quarter of last year, the increase in mortgage loans this quarter is almost double.
“Recently, the rate of increase in household credit is due to the fact that housing transactions are being actively carried out despite various government credit regulations, and there is demand for equity transactions,” Song said. “You need to pay attention to the growth rate and watch it.” Said.
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