South Korean household lending by major banks rises again in October, reversing a month-long dip, even as authorities keep tighter borrowing rules and market interest rates stay elevated. Data compiled by the banks show outstanding household loans at five major lenders total 783.6 trillion won as of end-October, up 2.77 trillion won from the previous month. The increase follows loans falling for the first time in six months in September.
Outlets attribute the rebound mainly to higher mortgage and credit lending. Mortgage loans rise for the seventh straight month, increasing by 1.7 trillion won to 623.99 trillion won, while credit loans also grow by 669 billion won to 108.89 trillion won after a prior decline. In the broader backdrop, the Bank of Korea keeps its benchmark interest rate at 3% after two consecutive rate hikes, and earlier reporting links borrowing costs to rising market rates, with household mortgage lending rates increasing through September.
While both outlets focus on the same underlying figures for loan growth and lending costs, Korea Times emphasizes the contrast between rising loans and “tightened rules/higher rates,” whereas Yonhap leads with a similar framing but reproduces the same core report style and figures.
