The outstanding balance of household loans in all financial sectors rose KRW9.0 trillion from the previous month in July 2020 (up 5.7% year-on-year). The household loan balance increased KRW7.6 trillion in the banking sector and KRW1.4 trillion in the non-banking sector.

By type, mortgage loans increased KRW4.1 trillion from the previous month in July (up KRW1.9 trillion y-o-y). Jeonse loans rose KRW2.7 trillion in the banking sector while group lending grew at a slower rate. Mortgage loans in non-banks saw a rise of KRW200 billion from the previous month. Other types of loans went up KRW4.9 trillion as credit lending by both banks and non-banks rose KRW3.7 trillion and KRW1.3 trillion, respectively.

The government will closely monitor trends in jeonse loans and credit loans in order to effectively manage household debt.

* Please refer to the attached PDF for details.