The outstanding balance of household loans in all financial sectors rose KRW9.5 trillion from the previous month at the end of February 2021 (up 8.5% y-o-y). In the banking sector,  household loans increased KRW6.7 trillion while the non-banking sector saw an increase of KRW2.8 trillion.

All financial sectors (y-o-y): +5.3% (Feb 2019) → +5.0% (Feb 2020) → +8.5% (Feb 2021)

By type, mortgage loans rose KRW7.7 trillion in February, growing KRW1.8 trillion from the previous month (up KRW0.8 trillion y-o-y). In the banking sector, jeonse loans and mortgage loans grew KRW3.4 trillion and KRW2.3 trillion, respectively, while mortgage lending by non-banks increased KRW1.3 trillion from the previous month. Other types of loans rose KRW1.8 trillion, down KRW2.7 trillion from the previous month as demand for credit loans declined.

The financial authorities will closely monitor trends in household loans and introduce a more effective household debt management plan focusing on individual DSR within this month.

* Please refer to the attached PDF for details.