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Total Housing Loans Surpass W1,000 Trillion

2019/08/11 | 126 views | Permalink | Source

Total housing loans in Korea have surpassed W1,000 trillion, but the pace of growth has slowed considerably over the past year, according to the Bank of Korea on Thursday (US$1=W1,210).

Outstanding property and other housing-related loans stood at W1,668 trillion as of the end of March, and W1,002 trillion were shouldered by private households.

The amount increased by 7.7 percent over the past year, much slower than the 13.2-percent growth seen in 2015.

But Korea's nominal GDP rose only 1.2 percent on-year in the first quarter of this year, suggesting that debt growth is still a worry.

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