Seoul: Household loans extended by South Korean banks rose for a seventh straight month in October but the growth markedly slowed down on tighter lending regulations, central bank data showed Monday. Banks' outstanding household loans stood at 1,139.5 trillion won (US$816.79 billion) as of end-October, up 3.9 trillion won from a month earlier, according to the data from the Bank of Korea (BOK).According to Yonhap News Agency, the figure marks a deceleration from a 5.6 trillion won increase in September. Of the amount, home-backed loans came to 900.3 trillion won at end-October, gaining 3.6 trillion won from a month earlier. It also logged a slowdown from a 6.1 trillion won increase in September. The deceleration came as the financial authorities have pressed major lenders to enforce tight lending restrictions in an effort to curb surging household debts and rein in home prices.In August, household borrowing rose by the largest margin in more than three years, led by a record jump in mortgage demand, in li ne with a sharp increase in housing prices in Seoul and the surrounding areas. Unsecured or other types of loans extended by banks to households rose 300 billion won in September to 238.1 trillion won.Corporate loans gained 8.1 trillion won from a month earlier to 1,324.3 trillion won in October, a steeper increase compared with the previous month's 4.3 trillion won rise, the data showed.
- October 12, 2026
