Regulatory Alerts2024-11-11 | 83380Household Loans, October 2024
The Financial Services Commission reported that household loans rose by KRW6.6 trillion in October 2024, driven by increased activity in the nonbanking sector despite a slowdown in bank mortgage issuance. In response to divergent growth trends, authorities mandated that nonbanking institutions develop individual household debt management plans for the remainder of the year and for 2025. The Financial Supervisory Service will also conduct inspections to ensure compliance with stressed debt service ratio rules for entities exhibiting particularly high loan growth.
Share