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  • Household loans rise 12% in Sept.
    Household loans rise 12% in Sept.
    Household loans from local banks increased 11.8 percent on-year in September, according to data on Oct.12. The loans amounted to 688.4 trillion won (US$613 billion) as of end-September, compared with 615.7 trillion won from a year earlier, according to the data from the Bank of Korea.Compared with August this year, the amount rose by 6.1 trillion won. The on-month increase marked a decline from an 8.6 trillion-won g...
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Household loans rise 12% in Sept.

Oct. 12, 2016 - 14:36 By 박윤아
[THE INVESTOR] Household loans from local banks increased 11.8 percent on-year in September, according to data on Oct.12.

The loans amounted to 688.4 trillion won (US$613 billion) as of end-September, compared with 615.7 trillion won from a year earlier, according to the data from the Bank of Korea.

Compared with August this year, the amount rose by 6.1 trillion won. The on-month increase marked a decline from an 8.6 trillion-won gain in the previous month.

“Mortgages increased 5.3 trillion won from the previous month in September due to a rise in demand for collective loans,” the BOK said.

Collective loans are often associated with the reconstruction of old apartments.

(theinvestor@heraldcorp.com)
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