Household Loans, January 2022Feb 10, 2022

The outstanding balance of household loans fell KRW0.7 trillion across all financial sectors at the end of January 2022 (up 6.3% y-o-y), showing a continued slowdown in the growth rate. The household loan balance dropped KRW0.4 trillion in the banking sector and KRW0.3 trillion in the nonbanking sector.


All financial sectors (y-o-y): +9.2% (Sep 2021) → +8.6% (Oct) → +7.7% (Nov) → +7.1% (Dec) → +6.3% (Jan 2022)


By type, mortgage loans rose KRW2.9 trillion in January, rising slightly more than the previous month (up KRW2.6 trillion) but staying at a stable level. Other types of loans including credit loans fell KRW3.6 trillion, showing a steady decline from the previous month (down KRW2.4 trillion), due to seasonal factors and the expanded application of the debt service ratio (DSR) rules on individual borrowers.

The financial authorities will continue to work for stable management of the household debt growth in 2022 while seeking measures to improve the qualitative structure of household debt.

* Please refer to the attached PDF for details.

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