The outstanding balance of loans to households in all financial sectors increased KRW5.9 trillion at the end of November 2021 (up 7.7% y-o-y). The balance of household loans rose KRW2.9 trillion each in the banking and non-banking sectors, showing an overall decline from the previous month.

All financial sectors (y-o-y): +10.0% (Jul) → +9.5% (Aug) → +9.2% (Sep) → +8.6% (Oct) → +7.7% (Nov)

By type, mortgage loans went up KRW3.9 trillion in November, growing at a slower rate compared with the previous month (up KRW5.2 trillion) due to a continuous fall in housing transactions.  Other types of loans including credit loans grew at a faster rate (up KRW2.0 trillion) compared with the previous month (up KRW0.9 trillion) due to an increased demand for IPO subscriptions in the last week of November.

The growth of household loan balance has been steadily declining with the rise in credit loans also at a stable level. The financial authorities will continue to work on effective implementation of the household debt management measures introduced in October.

* Please refer to the attached PDF for details.