The outstanding balance of household loans in all financial sectors rose KRW10.9 trillion from the previous month in September 2020 (up 6.8% year-on-year). The household loan balance increased KRW9.7 trillion in the banking sector and KRW1.1 trillion in the non-banking sector.

By type, mortgage loans increased KRW7.1 trillion in September, growing KRW0.8 trillion from the previous month (up KRW4.4 trillion y-o-y). In the banking sector, jeonse loans rose KRW3.5 trillion while mortgage loans expanded KRW2.0 trillion. Mortgage lending by non-banks saw an increase of KRW0.4 trillion from the previous month. Other types of loans went up KRW3.8 trillion as credit-based lending by both banks and non-banks rose KRW3.0 trillion and KRW0.7 trillion, respectively.

The financial authorities will closely monitor trends in household loans to prevent risks to the economy and draw up measures when necessary in close coordination with the relevant ministries.

* Please refer to the attached PDF for details.