Regulatory Alerts2024-12-11 | 83581Household Loans, November 2024
The Financial Services Commission reported that household loans grew by KRW5.1 trillion in November 2024, with growth slowing in the banking sector while expanding in nonbanks. Authorities identified tightened bank management and slower housing transactions as key factors decelerating overall debt growth, though they remain vigilant about potential future interest rate cuts. Consequently, the FSC extended temporarily eased housing loan rules for jeonse deposit returns until December 2025 and urged nonbanks to focus on resolving non-performing debt rather than increasing housing loan supply.
Share