started · updated
South Korean major banks see decline in household loans
South Korean household loans at five major banks—KB Kookmin, Shinhan, Hana, Woori, and NH NongHyup—fell in September for the first time in six months. Outstanding loans reached 781.39 trillion won, a decrease of 727.6 billion won from the end of August.
Despite the government increasing the annual household loan growth target to 7.1 trillion won, major lenders have maintained strict self-imposed restrictions. This has led to continued difficulty for borrowers, with some banks reporting that even after reopening applications for mortgage and jeonse loans, demand quickly exhausted available quotas.
Data indicates that while total loan growth has slowed, a balloon effect is occurring as demand shifts toward the insurance sector. Additionally, mortgage loans saw a decline, dropping to 620.5 trillion won from 621.2 trillion won at the end of August. Industry officials suggest that mortgage growth may regain momentum once supply resumes through collective lending.
Entities
Financial Services Commission · Hana Bank · KB Kookmin Bank · NH Nonghyup Bank · Shinhan Bank · Woori Bank
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 2 SOURCES] Outstanding mortgage loans stood at 620.5 trillion won as of Thursday. www.socialnews.xyz · www.koreaherald.com
- [● 2 SOURCES] Banks maintained self-imposed loan restrictions despite the government relaxing the household loan cap. www.socialnews.xyz · www.koreaherald.com
- [○ 1 SOURCE] Loan demand has shifted toward the insurance sector, a phenomenon known as a balloon effect. www.imaeil.com
- [● 2 SOURCES] Outstanding household loans at five major lenders stood at 781.39 trillion won as of early September. www.socialnews.xyz · www.koreaherald.com
- [● 2 SOURCES] Household loans fell by 727.6 billion won from the end of August. www.socialnews.xyz · www.koreaherald.com
- [● 2 SOURCES] The annual target for household loan growth for the five major lenders was raised to 7.1 trillion won. www.socialnews.xyz · www.koreaherald.com
- [○ 1 SOURCE] Household loans at five major banks increased by 41 trillion won over an 18-month period. www.imaeil.com
- [● 2 SOURCES] This marks the first monthly decline in outstanding household loans since March. www.socialnews.xyz · www.koreaherald.com